Growth of Modern Insurance

Many modern forms of insurance developed in England between the 16^th to 18^th centuries. The first known life insurance policy was written in London during the late 1500s. They also provided insurance to society members. Due to this, new risks also emerged. New forms of insurance were developed to manage these risks. The idea became so popular that it developed into England’s first fire insurance business. These companies became one of the most widely offered forms of property insurance. During this time, many companies were established to sell life insurance. Several mutual insurance companies were also developed.