Whilst fire insurance developed in the seventeenth century (Nicholas Barbon’s famous Fire Office was founded in 1681, much boosted by the recent Fire of London), and marine insurance became a large and lucrative business in the years between the Glorious Revolution in 1688 and 1720 when Royal Exchange Assurance and London Assurance were granted Royal Charters and given a monopoly on chartered insurance business, life insurance for much of the seventeenth and eighteenth centuries remained a poor relation because it was seen as a form of gambling, and as irreligious because tending to reduce the spiritual value of a life to a mere financial matter. Indeed, in France life insurance remained illegal until 1850, …
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Clark, Robert. "Rise of Insurance Business, 1696-1815". The Literary Encyclopedia. First published 06 September 2010
[http://www.litencyc.com/php/stopics.php?rec=true&UID=13874, accessed 24 June 2017.]