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Insurance as we know it today can be traced to the Extreme Charring of London, which in 1666 devoured 13,200 houses. In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, "The Fire Office," to Health Insurance insure brick and frame homes.

Some people believe that modern comprehensive medical insurance companies are money-making businesses which have little curiosity in insurance. They argue that the animus of provision is to spread risk so the reluctance of backing companies to take on high-risk essentials (e.g. houses in areas subject to flooding, or young drivers) runs counter to the principle of insurance.