Allstate has introduced a new workplace benefit, Allstate Scam Protection, aimed at helping employers protect their workers’ finances from the increasing threat of cyber and cryptocurrency fraud. The coverage provides reimbursement up to $50,000 for money stolen through scams, including losses involving cryptocurrency. This protection is offered exclusively as a workplace benefit and will be available to nearly 7 million employees and their families during open enrollment periods.
Cybercrime has been on the rise, impacting both household finances and productivity in the workplace. In 2024, Allstate Identity Protection helped recover $33.2 million in potential identity theft losses for its customers. Of this amount, $9.8 million was recorded in the fourth quarter alone. New account fraud accounted for $23.3 million in actual losses last year, while fraudulent applications led to an additional $5.5 million in potential exposure.
The launch of Allstate Scam Protection comes at a time when cybercrime typically increases during the holiday shopping season—particularly around Black Friday and Cyber Monday—due to an uptick in phishing texts, fake retailers, and social media scams.
“Scams cost employees time, money and productivity, impacting their families and their finances,” said Caroline Slane, senior vice president of business operations at Allstate Identity Protection. “This new scam protection fills a gap by putting money back in people’s hands so they can get back on their feet.”
Unlike traditional identity theft products that may have more exclusions or limited coverage types, Allstate Scam Protection covers various ways criminals steal money online with fewer restrictions.
Allstate Identity Protection products are already included in employee benefits packages at 4,500 companies—including about one-quarter of Fortune 500 firms—and are being adopted by more employers as concerns over digital security grow.
Recent data from the Federal Trade Commission shows that reported consumer losses due to fraud increased significantly in 2024; consumers lost approximately $12.5 billion according to FTC data (https://www.ftc.gov/news-events/news/press-releases/2025/03/new-ftc-data-show-big-jump-reported-losses-fraud-125-billion-2024).
Allstate advises consumers to remain vigilant against scams during peak holiday shopping periods when online threats are more common.
According to information provided by Allstate Identity Protection customers between January 1 and December 31, 2024, figures cited include both actual financial losses suffered through fraudulent activities such as unauthorized loans or credit card charges and potential exposure—the remaining risk associated with unused credit limits that could still be accessed by bad actors.
The Allstate Corporation offers a range of insurance products including auto, home, electronic device protection and identity protection through multiple distribution channels such as agents and retailers. The company currently holds over 209 million policies.
