HomeAg NewsIllinois Farmers Underutilizing Insurance Product

Illinois Farmers Underutilizing Insurance Product

The Pasture, Rangeland and Forage Rainfall Index (PRF-RI) is a crop insurance product underutilized by Illinois livestock and forage producers.

Farmdoc Daily from the University of Illinois reports that only 6% of the eligible acres in Illinois were insured in 2024, much lower than use west of the Mississippi. Like other Federal crop insurance programs, PRF-RI is heavily subsidized. Over time, PRF-RI has returned $1.29 in payments for each $1.00 in producer-paid premium. Illinois and Midwest livestock and forage producers should consider using PRF-RI as a risk management tool. PRF-RI has been available as a risk management tool for livestock and forage producers in Illinois since 2016.

According to the 2022 USDA Agricultural Census, Illinois producers operated roughly 742,000 acres of pasture and 473,000 acres were harvested for hay production. In 2024, approximately 70,000 acres were enrolled in PRF-RI, meaning less than 6% of eligible forage land in Illinois is enrolled in this subsidized insurance program.

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