Woodruff Sawyer’s Market Rate Pricing Index™, uses 2018, a pre-hard market year, as the baseline for subsequent changes in rate. In three short years, 2019–2021, D&O pricing for all companies rose sharply and peaked at 4.7 times the Q1 2018 level. A significant drop in rate began in Q2 2022. As of Q2 2025, premiums have continued to fall and now stand at 1.8 times the 2018 baseline. This puts pricing back to 2019 levels.