Prophetstown Farmers Mutual Insurance Company was organized in March of 1876. The founders’ original mission was to provide fire and lightning insurance for farms and rural property. In 1876 insurance companies did not provide insurance coverage for property that could not be reached by local fire departments. Today, most large stock insurance companies are still unwilling to insure property that is not close to a fire hydrant. It is still the mission of Farmers Mutual to provide property insurance for farmers and rural residents. The first Directors meeting was held April 22, 1876. There were nine directors selected from the original forty-eight charter policyholders. The nine directors chosen were also the agents who solicited additional policyholders in the original three township writing territory of Southern Whiteside County.