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Has insurance business started with homeowner’s policy?
Did you know that insurance goes way back in history? The first insurance company was established in London in 1667, after a Great Fire almost destroyed the city. Nicholas Barbon was a successful doctor, before he’s got into insurance business. It was his desire to protect his property, his wealth from fire, which inspired this doctor to start a company, known as “The insurance office”.
Not only it was insuring people’s houses, but this first homeowner’s insurance company has organized fire-fighting teams. Unfortunately, unlike firefighters in our time, those teams rushed to put the fire off only if the building was insured. Aren’t you glad we live in present time?
