Private Medical Insurance
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Private Medical Insurance
Medical insurance has a very long and interesting history; it was originally created in 1694 by Hugh Chamberlen who came from a well-known family of doctors, his descendants were French and he and his brother Peter Chamberlen fled Paris in 1576 to start a new life in Britain. His brother Peter went on to become the obstetrician and surgeon for Queen Anne and he got the ball rolling on what would grow into a large sector of the personal insurance industry.
In the late 19th century medical insurance became quite popular and was known as ‘accident insurance’. In the US, from the year 1850 ‘accident insurance’ was offered by the Franklin Health Assurance Company to those who might suffer steamboat or railroad injuries. The industry grew enormously, was consolidated and is thriving to this day, although it is still more popular with those in risky occupations.