Fire insurance came into existence after the Great Fire of the London in 1666.
Fire insurance is a contract between an insurance company and the policyholder which promises that any loss or damages caused due to fire to the insured property will be paid by the insurer.
In 1666, the Great Fire of London nearly destroyed the city. Fire insurance came into existence soon after the Great Fire of the London.
In 1680, the first insurance company, the 'Fire Office', was set up by Nicholas Barbon. This is one of the first property insurance policies.