Kingstone Companies Switches Independent Auditor to Deloitte

What Happened
Kingstone Companies, Inc. (KINS) filed an 8-K (Aug. 24, 2026) reporting that on August 18, 2026 its Audit Committee approved engaging Deloitte & Touche LLP as the company’s independent registered public accounting firm for the year ending December 31, 2026, subject to an engagement letter. At the same time the company dismissed CBIZ CPAs P.C. as its independent auditor. The Audit Committee cited Deloitte’s dedicated insurance practice and depth of resources in selecting the firm. The company previously disclosed that Marcum LLP resigned and CBIZ CPAs was appointed on April 8, 2025 after CBIZ acquired Marcum’s attest business.

Key Details

• Deloitte engagement approved by the Audit Committee on August 18, 2026; formal engagement letter pending.
• CBIZ CPAs’ audit report on the consolidated financials for year ended Dec. 31, 2025 was not qualified or modified for the financial statements, but CBIZ issued an adverse attestation on the effectiveness of internal control over financial reporting.
• The adverse attestation (disclosed in the company’s Form 10-K filed March 16, 2026) identified a material weakness tied to the lack of a SOC 1 Type 2 report for the company’s insurance premium quoting platform and general ledger system.
• From April 8, 2025 through Aug. 18, 2026 there were no disagreements or reportable events between Kingstone and CBIZ CPAs other than the previously disclosed adverse attestation; CBIZ provided a letter dated Aug. 24, 2026 (filed as Exhibit 16.1) addressing the disclosure and has been authorized to respond to Deloitte’s inquiries.

Why It Matters
An auditor change is material because auditors assess the accuracy of financial statements and internal controls. Kingstone’s move to Deloitte may bring more industry-specific audit resources given Deloitte’s insurance practice, but investors should note the existing material weakness in internal control (lack of SOC 1 Type 2 reports) disclosed by CBIZ. That internal control issue had already resulted in an adverse attestation on ICFR; remediation steps and future auditor findings will be important to monitor. The company reported no unresolved accounting disagreements with the outgoing auditor.