Attached. Please let me know if you have any questions or need revisions.Question 1Insurance business began in the late seventeenth century in more like an insurance marketin Landon. The first insurance company was established by Nicholas Barbon in the fourteencentury. The theoretical basis of insurance was created in around 1660. The first theory isprobability. This theory was to a monk Blaise Pascal, a French Mathematician. It evolve becauseof fear of harm. Pascal pointed out that the fear of harm is proportional to not only to the gravityof harm but also probability of the event. This as a …
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