NORTHBROOK, Ill., Feb. 26, 2019 /PRNewswire/ -- Allstate (NYSE: ALL) has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2019 World's Most Ethical Companies.
Allstate, being recognized for the fifth year in a row by Ethisphere, is one of only seven honorees in the insurance industry. This distinction reaffirms Allstate's commitment to living into its core values of honesty, caring and integrity.
"We are honored to be named one of the World's Most Ethical Companies for the fifth year in a row," said Susan (Susie) L. Lees, executive vice president, general counsel and secretary of The Allstate Corporation. "Our employees deserve full recognition for this award. It's their day-to-day decisions and relentless focus on the customer that earn us this prestigious title."
The 128 honorees for 2019 span 21 countries and 50 industries. The 13th class of honorees profoundly illustrates how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
"Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform but last," said Ethisphere's Chief Executive Officer Timothy Erblich. "I congratulate everyone at Allstate for earning this recognition."
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute's Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company's performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.