Assurant Inc

Regulation – International Regulation" in this Report, " – Business, Strategic and Operational Risks – Our mobile business is subject to the risk of declines in the value and availability of mobile devices, and to regulatory compliance and other risks, " " – Macroeconomic, Political and Global Market Risks – General economic, financial market and political conditions and conditions in the markets in which we operate may materially adversely affect our results of operations and financial condition," " – Legal and Regulatory Risks – We are subject to extensive laws and regulations, which increase our costs and could restrict the conduct of our business, and violations or alleged violations of such laws and regulations could have a material adverse effect on our reputation, business and results of operations, " " – Legal and Regulatory Risks – Our business is subject to risks related to litigation and regulatory actions " and " – Legal and Regulatory Risks – The costs of complying with, or our failure to comply with, U.S. and foreign laws related to privacy, data security and data protection could adversely affect our financial condition, operating results and reputation . "

Our mobile business is subject to the risk of declines in the value and availability of mobile devices, and to regulatory compliance and other risks .

The value of the mobile devices that we collect and refurbish for our clients may fall below the prices we have paid or guaranteed, which could adversely affect our profitability. Our mobile business is subject to the risk that the value, including selling price, or availability of devices and parts will be adversely affected by: technological changes affecting the usefulness or desirability of the devices and parts; physical problems resulting from faulty design or manufacturing; increased competition; decreased customer demand, including due to changes in customer preferences, changes in client promotions and seasonality; changes in client forecasts and demand; supply chain constraints and our ability to manage inventory; and growing industry emphasis on cost containment. The value and availability of devices may also be impacted by adverse foreign trade relationships and an escalation of U.S.-China and China-Taiwan trade tensions. If the value or availability of devices or parts is significantly reduced, it could have a material adverse effect on our profitability.

Our sales of mobile devices to third parties, particularly those domiciled outside of the U.S., subject us to compliance costs and increased risk, including risks relating to corruption, sanctions and export control laws and regulations, which may result in fines or other sanctions, and increase the cost of operating the business. While we conduct diligence and screening for buyers of mobile devices that we sell, our mobile device buyers may not comply with applicable laws and regulations, including anti-money laundering laws. In addition, strong compliance standards may adversely impact our ability to find buyers. Furthermore, certain businesses we acquire may violate, and from time to time have violated, such laws and regulations, which could subject us to liability. Non-compliance with such laws could adversely affect our business, reputation, relationships with our clients and their customers, financial condition and results of operations. See " – We face risks associated with our international operations " and " – Significant competitive pressures, changes in customer preferences and disruption could adversely affect our results of operations. "