A. The Great Fire of London in 1666
The historical event that led to the birth of modern insurance as we know it today is the Great Fire of London in 1666. This catastrophic event resulted in widespread destruction of property, leading to the development of modern insurance practices to mitigate the financial risks associated with such disasters. As a result, the concept of property insurance and the modern insurance industry began to take shape in response to the aftermath of the Great Fire of London.
