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D&O Market Update
Rates for Public Companies
The directors & officers (D&O) insurance marketplace alternates between hard, soft, and stable cycles over time. Depending on the year, various factors dominate the headlines and attempt to explain and/or justify the forces behind the market’s movements. What endures, however, is the fundamental need to protect companies’ balance sheets and individual directors and officers from risks that are constant, and others that are emerging and evolving.
Now in its 13th edition, Woodruff Sawyer’s Looking Ahead Guide helps clients stay informed on what’s currently happening in the D&O landscape as well as where things may be headed. To do this, we tap into the wisdom and expertise of trusted industry experts who help us take on the challenging task of anticipating what lies ahead for the D&O industry. Now in its ninth year, our annual Underwriters Weigh In™ survey has accurately anticipated many of the new challenges that have unfolded, along with providing insights and thoughtful nuance regarding the topics that remain timeless.
In this year’s Guide, and as always, we strive to help you see the risks and opportunities that lie ahead in 2026. To do this, we start with a review of the market trends in pricing, retentions, and litigation.
Public D&O Annual Renewal Results for Cost Change Over 7.5 Years*
The public D&O rate environment remains fluid, with 70% of Woodruff Sawyer clients still seeing decreases in renewal premiums as of mid-2025. Among the 26% of clients who saw a rate increase, 33% experienced increases of less than 5% above their expiring premiums. Despite carriers’ ongoing concerns that too much rate has come out of the market and pricing is too thin to be sustainable, clients continue to benefit from soft market conditions. Interestingly, we often see this regardless of whether a client’s risk is modest or significant.
