Kingstone Companies Inc. (NASDAQ:KINS), a Kingston-headquartered property and casualty insurance holding company, announced changes to the governance structure of its board of directors.
Among the changes, Kingstone announced that Timothy McFadden (pictured here) was named lead independent director. McFadden joined the board as an independent director in 2018 and brings more than 30 years of experience in the insurance industry.
The company also established a corporate sustainability and risk management committee of the board that will be responsible for oversight of environmental, social and governance issues, cybersecurity, reinsurance and talent acquisition and development. McFadden was named chairman of the new committee, which will also include independent directors William Yankus and Carla D’Andre. The company also announced combined the board’s compensation and finance committees, with Yankus as its chairman.
“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,” said McFadden.