The Great Fire of London in 1666 devastated much of the city, but it led to a revolutionary financial innovation—insurance. After the fire, Nicholas Barbon established one of the first fire insurance companies, allowing property owners to protect against future disasters. This idea spread rapidly and evolved into the global insurance industry we know today. Modern insurance helps individuals and businesses manage risks, stabilizing economies in times of uncertainty. The origins of insurance remind us how catastrophe can inspire progress and resilience.
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