Kingstone (KINS) Announces Corporate Governance Changes

Kingstone Companies, Inc. (Nasdaq: KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced certain changes to the governance structure of its Board of Directors (the “Board”), reflective of the Board’s continued evaluation of the Company’s corporate governance profile and consistent with its commitment to shareholder value creation.

Among the changes, Kingstone announced that Timothy McFadden has been named as Lead Independent Director of the Board, effective March 8, 2023. Mr. McFadden joined the Board as an independent director in 2018 and brings more than 30 years of experience in the insurance industry.

“Tim’s outstanding record of leadership in the industry makes him a strong choice for this role,” said Barry Goldstein, Kingstone's Chairman and Chief Executive Officer. “He has been a critical voice in our boardroom since he first joined more than four years ago, and I am confident he will provide exceptional oversight to the Board and our leadership team.”

The Company also announced the establishment of a Corporate Sustainability and Risk Management Committee of the Board. This Committee will be responsible for oversight of environmental, social and governance issues, cybersecurity, reinsurance, and talent acquisition and development. The Corporate Sustainability and Risk Management Committee will be comprised of three independent directors, Mr. McFadden (Chair), William Yankus and Carla D’Andre.

The Company further announced that the Compensation Committee of the Board and the Finance Committee of the Board have been combined to form the Board’s Compensation and Finance Committee, comprised of Mr. Yankus (Chair), Ms. D’Andre, and Floyd Tupper. The Nominating and Governance Committee of the Board will now be chaired by Ms. D'Andre, with Messrs. McFadden and Tupper serving as members.

“I am honored to serve as Lead Independent Director of Kingstone’s Board of Directors and be a part of furthering the Company’s commitment to best corporate governance practices,” said Mr. McFadden. “The announced changes are designed to ensure Kingstone has a robust governance structure in place to support strategic initiatives and long-term growth for the benefit of all our shareholders.”

About Kingstone Companies, Inc.

Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut. Kingstone is also licensed in Pennsylvania, New Hampshire, and Maine.

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