A 300-year-old solution to the health care crisis.

摘要

The Great Fire of 1666 transformed the city of London, England, in ways that provide important insights regarding the cost and quality of health care today. Before the Great Fire, there was no such thing as fire insurance. Yet as soon as the smoke cleared, enterprising entrepreneurs realized that Londoners were willing to pay dearly for reassurance that their homes could be replaced if another devastating fire were to occur. Within a year, the first-ever fire insurance policies went on sale, and by 1687, the market was dominated by 2 rival businesses, each of which petitioned King James II for a monopoly.