Spinnaker Insurance Company has filed a 10% rate increase for Sola’s tornado, wind and hail insurance program in Arkansas, with renewal increases capped at 5% for the same coverage limit.

Arkansas marked the filing “Filed” on November 12. The changes take effect December 1, 2026 for new business and January 1, 2027 for renewals.

The filing lists 2,720 policyholders and $762,612 in written premium, with a projected premium increase of $76,261. The actuarially indicated increase was 59.1%.

“The Company has experienced adverse loss outcomes since its inception in 2024, as well as observed an increasing trend in severe weather events in recent years, particularly in those that trigger claim payouts as defined in the policy,” Spinnaker stated in its filing memorandum.

“This rate increase is intended to provide adequate rates for the current environment.”

The parametric-type product offers limits from $2,000 to $25,000. Payments depend on qualifying weather events and severe property damage, with tornado payouts tied to Enhanced Fujita ratings, straight-line wind payouts tied to estimated wind speeds, and hail payouts based on a defined damage threshold.

Founded in 2020 and based in Atlanta, Sola is an MGA offering supplemental severe-weather insurance. It has raised $11.7 million in disclosed funding, including an $8 million Series A in August 2025. Backers include 10vc, FINTOP Capital, JAM FINTOP, Overline and Karuna VC.

LinkedIn lists 56 employees, up 27% over the past year.