Hotels in Mumbai

1. REGENCY HOTEL 73, Nepean Sea Road City : MumbaiPinCode : 400 006 Phone : 022 - 66571234,Fax : 022 - 66571200,E-Mail : regencyhotel@vsnl.com
2. THE RESIDENCE HOTEL & CONVENTION CENTRE 16 / 17 Saki Vihar Road, Near L & T Gate No. 1Before NITIE, Powai City : Mumbai PinCode : 400 087 Phone : 022 - 28575000 / 8686,Fax : 022 - 28571195,E-Mail : reservation@theresidencehotel.comWebsite : www.theresidencehotel.com
3. RODAS Central Avenue, Hiranandani Gardens Powai City : Mumbai PinCode : 500 076 Phone : 022 - 56936969,Fax : 022 - 56936979, E-Mail : info@rodashotel.comWebsite : www.rodashotel.com
4. HOTEL SAMRAJ Chakala Road, Andheri (East) City : MumbaiPinCode : 400 099 Phone : 022 - 28209311 / 28363921, Fax : 022 - 28363923,
5. RESIDENCY HOTEL 213/1, Suren Road, Gundavali Andheri (East) City : Mumbai PinCode : 400 093 Phone : 022 - 26841234, 66491234,Fax : 022 - 56925557, E-Mail : residencyhotel@vsnl.netWebsite : www.residencymumbai.com
6. REGENT HOTEL Ramkrishna Mandir Road Kondivita, Andheri (East) City : Mumbai PinCode : 400 059 Phone : 022 - 28342020, 28342626, Fax : 022 - 28215587,E-Mail : hregent@vsnl.com Website : www.regentmumbai.com
7. HOTEL SURESHA 45, Tarun Bharat Society, Dr. Karanjiya Road,Chakala, Andheri (East) City : MumbaiPinCode : 400 099 Phone : 022 - 28232323, 28261213, Fax : 022 - 28261234, E-Mail : srhotel@vsnl.comWebsite : www.hotelsuresha.com
8. HOTEL TUNGA INTERNATIONAL B- 11 M.I.D.C, Central Road Opp Mahakali Caves Road Andheri (East) City : Mumbai PinCode : 400 093
9. TIRUPATI RESORTS Plot No. 1248, Marol Maroshi Road, Andher (East) City : Mumbai PinCode : 400 059 Phone : 022 - 28370203/ 04, 28210490,Fax : 022 - 28210491, E-Mail : tirupatiresorts@vsnl.comWebsite : www.hoteltirupati.com
10. HOTEL SUN-N-SHEEL 318 / 41, Kakad Corner, Morole Pipe Line,Andheri Kurla Road, Andheri (E) City : Mumbai PinCode : 400 059 Phone : 022 - 28238811 (8 Lines), Fax : 022 - 28221480, E-Mail : hotelsunsheel@vsnl.net
11. HOTEL ASHWIN PVT. LTD. Next to Fire Brigade Marol Naka Marol Maroshi Road, Andheri (E) City : Mumbai PinCode : 400 059 Phone : 022 - 28367267 /69, 28240945, 28245285, Fax : 022 - 28367258,E-Mail : reservation@hotelashiwnmumbai.comWebsite : www.hotelashwinmumbai.com
12. HOTEL BENZY PALACE Vijay Nagar, Marol Maroshi Road, Andheri (East) City : Mumbai PinCode : 400 059 Phone : 022 - 28507900 (10 lines), Fax : 022- 28507909 / 27, E-Mail : benzypal@vsnl.net
13. KOHINOOR CONTINENTAL Andheri - Kurla Road, J.B. Nagar, Andheri (E) Mumbai PinCode : 400 059 Phone : 022 - 66919000,Fax : 022 - 66916111,E-Mail : info@kohinoor-group.comWebsite : www.kohinoorgroup.co.in
14. THE MIRADOR HOTEL 131, New Link Road Chakala, Andheri (East) Mumbai 400 099 022 - 56495000,themirador@themirador.com www.themirador.com
15. HOTEL PARKWAY Trans Residency, 701 ‘E’ Wing, 7th Floor, MIDC, Subhash Nagar, Andheri (East), Mumbai 400 093 Tel. 30906134
16. HOTEL PARLE INTERNATIONAL B.N. Agarwal Market, 27 Tejhpal Road,Vile Parle (E) City : Mumbai PinCode : 400 057 Phone : 022 - 26102122 / 23 / 24, Fax : 022 - 26128215,E-Mail : info@hotelparleinternational.com
17. HOTEL ATITHI 77 A&B, Nehru Road, Vile Parle (East) City : Mumbai PinCode : 400 099 Phone : 022 - 26116124 - 26, 26130874 / 75, Fax : 022 - 26111998, E-Mail : atithi@bom8.vsnl.net.in
18. HOTEL AIRLINK 75, Off Nehru Road, Near Santacruz Airport,Vile Parle (East) City : Mumbai PinCode : 400 099State : Maharashtra Phone : 022 - 26184220, 26183575 / 695 / 626, Fax : 022 - 26105186,E-Mail : unversal@vsnl.comWebsite : www.hotelairlink.com
19. Mercure Hotel Guestline Juhu bearch road Santarucze (e) Mumbai
20. HOTEL JUHU RESIDENCY 148 B, Juhu Tara Road City : MumbaiPinCode : 400 049 Phone : 022 - 26184544 / 46 / 47, Fax : 022 - 26110892,
21. HOTEL FITION Juhu Tara Road, Juhu City : MumbaiPinCode : 400 049 Phone : 022 - 56924658, 26609710, 26603875, 26607701,Fax : 022 - 56924657,E-Mail : hotelfition@rediff.comWebsite : www.hotelfition.com
22. HOTEL KING'S INTERNATIONAL 5, King’s International House, Juhu Tara Road, Juhu City : Mumbai PinCode : 400 049Phone : 022 - 56922222, 26184381,Fax : 022 - 26110059,E-Mail : kings@bom5.vsnl.net.inWebsite : www.kinginternational.com
23. RAMEE GUESTLINE HOTEL - JUHU 462, A.B. Nair Road, Juhu Mumbai 400 049 022 - 66935555, 66905555, mumbai.juhu@rameeguestlinehotels.comwww.mumbai.ramee-group.com
24. SEA SIDE HOTEL 39/2, Juhu Beach, Juhu City : MumbaiPinCode : 400 049 Phone : 022 - 56923901 (8 lines),Fax : 022 - 26202306,E-Mail : hotelseaside@rediffmail.com
25. GOLDEN MANOR Opp. Juhu Church, Juhu City : MumbaiPinCode : 400 049 State : Maharashtra Phone : 022 - 56926321 to 27, Fax : 022 - 56926329,E-Mail : contact@goldenmanor.comWebsite : www.goldenmanor.com
26. HOTEL FOUR SEASONS 5, Juhu Tara Road, Opp. Juhu Church, Juhu City : Mumbai PinCode : 400 049 Phone : 022 - 26631441 (7 lines),Fax : 022 - 26177573,E-Mail : season4@bom3.vsnl.net.in
27. HOTEL AJANTA 8 Juhu Tara Road, Santacruz West City : Mumbai PinCode : 400 049 Phone : 022 - 26607878,Fax : 022 - 26607274,E-Mail : hotelajanta@vsnl.comWebsite : www.benluxhotels.in
28. CITIZEN HOTEL 960, Juhu Tara Road, Juhu Beach City : MumbaiPinCode : 400 049 Phone : 022 - 66932525, 26607273,Fax : 022 - 66932526,E-Mail : citizen@vsnl.comWebsite : www.citizenhotelmumbai.com
29. HOTEL MIDLAND Jawaharlal Nehru Road, Santacruz (East)City : Mumbai PinCode : 400 055 Phone : 022 - 26110413 / 14, 26118607 / 08, Fax : 022 - 26132411E-Mail : hotel.midland@vsnl.comWebsite : www.hotelmidland.com
30. HOTEL NEW CASTLE 355, Linking Road, Khar (West) City : MumbaiPinCode : 400 052 Phone : 022 - 26480483, 26484854, 26480491, Fax : 022 - 26490276,E-Mail : newcastl@bom3.vsnl.net.in
31. HOTEL RAMEE INTERNATIONAL 757, S.V. Road, Khar West City : Mumbai PinCode : 400 052 Phone : 022 - 26485421 - 23,Fax : 022 - 26485085,Website : www.ramee-group.com
32. HOTEL METRO PALACE 355, Ramdas Nayak Road, Bandra (W) City : Mumbai PinCode : 400 050 Phone : 022 - 26427311, 26427022 - 33, 26433537, Fax : 022 - 26431932, E-Mail : mp@uniquehotelsindia.comWebsite : www.uniquehotelsindia.com
33. EXECUTIVE ENCLAVE 331, Dr. Ambedkar Road, Pali Hill,Bandra City : MumbaiPinCode : 400 050 Phone : 022 - 56969000, 26047144, 26490227, SMS: 9323969090, 9323969010,Fax : 022 - 26496973, 56969001,E-Mail : enclave@vsnl.comWebsite : www.executiveenclave.com
34. HOTEL RANG SHARDA K.C. Marg, Bandra, Reclamation, Bandra (West) City : Mumbai PinCode : 400 050 Phone : 022 - 26401919, 26438120 - 27, Fax : 022 - 26402529, 26414664,E-Mail : hotelrangsharda@vsnl.com Website : www.rangsharda.org
35. HOTEL SHANTIDOOT Opp. Hindmata Cinema Dr. Ambadkar Road, Dadar City : Mumbai PinCode : 400 014 Phone : 022 - 24164923 /24 /25, Fax : 022 - 24149064,E-Mail : hotelshantidoot@hotmail.comWebsite : www.hotelshantidoot.com
36. HOTEL MIDTOWN PRITAM 20-B, Pritam Estates, Dr. Ambedkar RoadDadar (E) City : Mumbai PinCode : 400 014State : Maharashtra 022 - 24145555 (15 lines),Fax : 022 - 24143388,E-Mail : pritam@bom3.vsnl.net.inWebsite : www.pritamhotels.com
37. RAMEE GUESTLINE HOTEL Plot No.3, Kohinoor Road Opp. Swami Narayan Temple, Dadar (E) Mumbai 400 014 022 - 24115657/ 5353 rameeguestlinedadar@rediffmail.com www.ramee-group.com
38. CHATEAU WINDSOR HOTEL 86, Veer Nariman Road, Churchgate City : Mumbai PinCode : 400 020 Phone : 022 - 22044455, Fax : 022 - 22026459, E-Mail : info@chateauwindsor.comWebsite : www.chateauwindsor.com
39. RITZ HOTEL 5, Jamshedji Tata Road, Churchgate City : MumbaiPinCode : 400 020 State : Maharashtra Phone : 022 - 22850500, 22820141, 2837623, Fax : 022 - 22850494, E-Mail : ritz_hotel@vsnl.net
40. ASTORIA HOTEL J. Tata Road Churchgate City : MumbaiPinCode : 400 020 Phone : 022 - 66541234, 22871211,Fax : 022 - 22854200, E-Mail : astoria@hathway.com
41. SEA GREEN HOTEL 145, Marine Drive Churchgate City : Mumbai PinCode : 400 020 Phone : 022 - 66336525, 22822294,Fax : 022 - 66336530,E-Mail : mail@seagreenhotel.comWebsite : www.seagreenhotel.com
42. THE AMBASSADOR Veer Nariman Road, Chrchgate Mumbai 400 020 022 - 22041131,sales@ambassadorindia.comwww.ambassadorindia.com
43. THE GORDON HOUSE HOTEL 5, Battery Street Apollo Bunder, Colaba City : Mumbai PinCode : 400 039 Phone : 022 - 22871122, Fax : 022 - 22872026,E-Mail : dutymanager@ghhotel.comWebsite : www.ghhotel.com
44. SEA PALACE HOTEL 26, P.J. Ramchandani Marg, Colaba City : Mumbai PinCode : 400 039 Phone : 022 - 22841828, 22854404/ 10,Fax : 022 - 22854403,E-Mail : seapalacehotel@vsnl.netWebsite : www.seapalacehotel.com
45. ASCOT HOTEL 38, Garden Road, Colaba City : Mumbai PinCode : 400 039Phone : 022 - 66385566, 22872105,Fax : 022 - 66385555,E-Mail : ascothotel@vsnl.comWebsite : www.ascothotel.com
46. HOTEL DIPLOMAT 24-26 B.K. Boman Behram Marg, Apollo Bunder City : Mumbai PinCode : 400 001 Phone : 022 - 22021661, Fax : 022 - 22830000, E-Mail : diplomat@vsnl.comWebsite : www.hoteldiplomat-bombay.com
47. GARDEN HOTEL 42, Garden Road, ColabaCity : MumbaiPinCode : 400 039 Phone : 022 - 22841476, 22841700, Fax : 022 - 22044290,E-Mail : gardenhotel@mail.com
48. HOTEL ANTIQUE 25/27, Indumati Sakrikar Path Colaba Market City : Mumbai PinCode : 400 005 Phone : 022 - 22832830, 22830361, 6659350,Fax : 022 - 6659351,E-Mail : info@hotelantique.netWebsite : www.hotelantique.net
49. HOTEL GODWIN 41, Garden Road, Colaba City : MumbaiPinCode : 400 001Phone : 022 - 22841226, 22872050, Fax : 022 - 22871592,E-Mail : godwinht@vsnl.inWebsite : www.cybersols.com\godwin
50. FARIYAS HOTEL 25 Off Arthur Bunder Road, Colaba City : Mumbai PinCode : 400 005 022 – 22042911info@fariyas.com www.fariyas.com
51. RESIDENCY HOTEL 26, Gunbow Street Corner of D.N. Road, Fort City : Mumbai PinCode : 400 001 Phone : 022 - 22625525/ 26, 66670555,Fax : 022 - 22619164,E-Mail : residencyhotel@vsnl.comWebsite : www.residencyhotel.com
52. HOTEL CLARIDGE 8th Floor, Tardeo AC Market Building Taroeo Road City : Mumbai PinCode : 400 034 Phone : 022 - 23514000 /1 /2, Fax : 022 - 23525995,
53. RAJDOOT HOTEL 19, Jackeria Bunder Road, Cotton Green Railway Station City : Mumbai PinCode : 400 033 Phone : 022 - 23714444 / 42 / 43 / 40,Fax : 022 - 23714402, E-Mail : ras@bom8.vsnl.net.inWebsite : www.leisureholidays.com
54. WEST END HOTEL 45, New Marine Lines City : MumbaiPinCode : 400 020 State : Maharashtra Phone : 022 - 22039121, 22057484,Fax : 022 - 22057506,E-Mail : westhotel@hathway.comWebsite : www.westendhotelmumbai.com
55. HOTEL GULISTAN 196, Lamington Road, Next to Minerva Cinema City : Mumbai PinCode : 400 007 Phone : 022 - 23081461 to 65 (5 lines),Fax : 022 - 23084582,E-Mail : hotelgulistan@asia.comWebsite : www.hotelgulistanmumbai.com
56. HOTEL ROSEWOOD 99/C, Tulsiwadi, Tardeo City : MumbaiPinCode : 400 034 Phone : 022 - 24940320 - 29 (10 lines), Fax : 022 - 24983567,E-Mail : rosewood@vsnl.comWebsite : www.hotelrosewood.com
57. HOTEL NAGINA 53, Dr. B.A. Road, Near Victoria Garden,Byculla City : Mumbai PinCode : 400 027 Phone : 022 - 23717799 (9 lines), Fax : 022 - 23738436,E-Mail : mukeshn@bom3.vsnl.net.in
58. HOTEL COMFORTINN HERITAGE Sant Savta Marg, Opp. Gloria Church Byculla (East) City : Mumbai PinCode : 400 027 Phone : 022 - 23714891, 23734901, Fax : 022 - 23738884,E-Mail : reservation@comfortinnheritage.comWebsite : www.comfortinnheritage.com
59. SUPREME HERITAGE Plot No. L-2, Sector - 19 Vashi City : Navi Mumbai PinCode : 400 705Phone : 022 - 27650580, Fax : 022 - 27668687,E-Mail : supremeheritage@vsnl.netWebsite : hotelsupremeheritage.com
60. DAYS INN NAVI MUMBAI Plot No. 1, Palmbeach Marg, Sector 19, VashiCity : Navi Mumbai State : Maharashtra Phone : 022 - 27800404/ 5/ 6, 27662405, 67902780,Fax : 022 - 27800386,E-Mail : manjeet@bom3.vsnl.net.inWebsite : www.daysindia.com
61. HOTEL HIGHWAY VIEW Plot No. 3, Opp. Sanpada Railway Station City : New MumbaiState : Phone : 022 - 27831195, 27832203, 27832196/ 97, Fax : 022 - 27832199, 27831226, E-Mail : info@shikarahospitality.comWebsite : www.shikarahospitality.com
62. HOTEL PRASAD INTERNATIONAL Western Express Highway,Near Dahisar Check Post City : Thane PinCode : 401 104 Phone : 022 - 28458210 upto 14,Fax : 022 - 28118080,
63. K STARS HOTEL Plot NO.46 & 55, Sector-11CBD Belapur City : Navi Mumbai PinCode : 400 614 Phone : 022 - 67939111 to 20, Fax : 022 - 27560274 /75, E-Mail : kstarshotel@rediffmail.com Website : www.kstarshotel.com
64. RAJHANS HOTEL Opp. Railway Station Chembur City : MumbaiPinCode : 400 071 Phone : 022 - 67978090, 67973140 /41 /42, 25280988/ 1055, Fax : 022 - 25284058,E-Mail : hotelraj@bom8.vsnl.net.inWebsite : www.rajhanshotel.com
65. THE ROYAL ORCHID (Formerly known as Hotel Royal) 83-A, N.G. Acharya Marg, Chembur City : Mumbai PinCode : 400 071 Phone : 022 - 25201234, 25219000, Fax : 022 - 25213528,E-Mail : info@hotelroyalorchid.netWebsite : www.hotelroyalorchid.net
66. HOTEL ASHRAY INTERNATIONAL Plot - 12, Road, No 1 Sion City : MumbaiPinCode : 400 022 Phone : 022 - 24075544, 24091133, 24091514, Fax : 022 - 24024894,

Hotels and Bed and Breakfast in New Delhi

1. Devna Devna 10 Sunder Nagar New Delhi 110003
2. Sunflower Sunflower (Ms. S. Kumar) 452 Defence Coloney New Delhi - 110024
3. Mr. Amrinder Singh A-304 Saraswati Aprtment 97 IP Extension Delhi 110092
4. Akanksha Mr. Shyam Swaroop 12/14 Sarva Priya Vihar New Delhi 110016
5. Sanskriti Mrs. Shashi Singh J-263, Ground Floor, Saket, New Delhi - 110017
6. Mr. Piyush Sharma & Ms. Roli Sharma S-175 Greater Kailash Part - II New Delhi - 110048
7. Mr. Mohinder Kaur A-450 Defence Colony New Delhi Shanti Kunj Greater Kailash Enclave - II New Delhi
8. Mrs. Anuradha Kher 59/9 Rohtak Road, New Delhi 110005 Smt. Anita Jain S-39, Greater Kailash - II New Delhi
9. Mr. Suresh Bal G-59, Naraina Vihar New Delhi - 110005
10. "Bhrmi" Mr. Gulshan Vir J-131, Ground Floor, Vikaspuri, New Delhi - 110018
11. Mr. G.K. Sethi 90, Gagan Vihar Delhi - 110051
12. Mrs. Neeelam Malhotra K-1/16, Chitranjan Park, New Delhi - 110049
13. Mrs. Kamini Chopra N-115, Greater Kailash Part I New Delhi 110049
14. Hotel Vikram Hotel Vikram, Lajpat Nagar, New Delhi
15. THE CONNAUGH "37, Shaheed Bhagat Singh Marg New Delhi 110 001 011 - 4225, ROMINENT.HOTELS@gems.vsnl.net.in http://www.hotelconnaughtdelhi.com/
16. THE HANS PLAZA Hansalaya Building, 15, Barakhamba Road New Delhi 011 - 23316861, 23316868 hansotel@nde.vsnl.net.in, http://www.hansgroup.com/
17. HOTEL CITY PARK K.P. Block Pitampura Delhi 110 088 011 - 42310101, 27310101 hotelcitypark@vsnl.net http://www.hotelcitypark.com/
18. HOTEL DIPLOMAT 9, Sardar Patel Marg, Diplomatic Enclave New Delhi
19. HOTEL JANPATH Janpath Road New Delhi 110 001 011 – 23340070 janpath@ndf.vsnl.net.in
20. HOTEL MARINA G-59, Connaught Circus New Delhi 110 001 011 – 23324658 hotelmarina@airtelbroadband.in
21. THE RETREAT MOTEL/RESORT "Alipur, Main G.T. Karnal Road Near Palla Mod Delhi 110 036 011 - 27207843, 27205331 contact@theretreatresort.com http://www.theretreatresort.com/
22. GRAND SARTAJ A-3, Green Park New Delhi 110 016 011 - 26857660 /62 /64 /66, grandsartaj3216@yahoo.co.in http://www.maharanigroupofhotels.com/
23. HOTEL SURYA CONTINENTA J -14, Community Centre, Rajouri Garden New Delhi 110 027 011 - 25468808 - 09,
24. NIRULA 'S HOTEL L- Block, Connaught Circus New Delhi 110 001 011 - 41517070 to 77 delhihotel@nirulas.com http://www.nirulas.com/
25. HOTEL TOURIST DELUXE "7361, Ram Nagar, Qutab Road, Near New Delhi Railway Station, Paharganj 011 - 23670985 (8 lines), touristdeluxe@vsnl.net http://www.schandgroup.com/
26. HOTEL RAJDOOT Mathura Road New Delhi 110 014 Tel. 011 – 24376666
27. Hotel Jageer Palace C-6/1, Mansarover Garden, New Delhi-110015,
28. Delhi York Hotel, Connaught Place K-10, Connaught Circus, New Delhi 110 001, Delhi
29. HOTEL ALKA ANNEXE M-20, Connaught Circus New Delhi 110 001 011 - 23416680, 23414028, hotelalka@vsnl.com http://www.hotelalka.com/
30. HOTEL OASIS H.D. 8, Pitampura New Delhi 110 034 011 - 27316869, 27311274 info@oasisgrp.com, http://www.oasisgrp.com/
31. HOTEL REGAL S.P. Mukerjee Marg City: New Delhi 110 006 011 - 23976232, 23943999
32. HOTEL TOURIST 7361 Ram Nagar, Qutab Road, Near N.D. Railway Station 16 kms. from Airport; Near New Delhi Railway Station; 6 kms. from I.S.B.T. Bus Stand
33. JUKASO INN 50 Sunder Nagar New Delhi 110 003
34. TERA HOTEL & RESTAURANTS PVT. LTD. 2802, Bara Bazar, Kashmiri Gate Delhi 110 006
35. TIVOLI GARDEN RESORT "Khasra No.646-653 Village - Chattarpur New Delhi 110 030 011 - 26301111, tivoli@vsnl.com http://www.tivoligarden.com/
36. MADHUBAN INN B-71, Greater Kailash - I, Opp. ANZ Grindlays Bank New Delhi 011 - 26219982, 26431923 rajeshgulati6@hotmail.com
37. HOTEL GOLD REGENCY "4350, Main Bazar Paharganj New Delhi 110 055 011 - 23562101, 23585559/ 5556, info@goldregency.com http://www.goldregency.com/
38. HOTEL THE NEST Corner House, 11-Qutab Road New Delhi 110 055 011 - 23527283, 23628426 vivekp@nda.vsnl.net.in www.indiamart.com/hotelthenest
39. HOTEL BHAGIRATH PALACE Bhagirath Palace, Chandni Chowk Delhi 110 006 011 - 23866223, 23866723 hotbha@yahoo.com
40. HOTEL FIFTY FIVE H - 55, Connaught Circus New Delhi 110 001 011 - 23321244, 23321278, bookings@hotel55.com
41. HOTEL NEERU 10, Netaji Subash Marg, Daryaganj New Delhi 110 002 011 - 23278522, 23278756,
42. Hotel Maharaja Vishal Enclave A-37, Vishal Enclave, Opp. Vishal Cinema New Delhi
43. HOTEL HOST-INN F - 33 Connaught Place New Delhi 110 001 011 - 23310431, 23310523

Night Clubs & Pubs in Mumbai

Avalon Hotel Bawa International,

Vile Parle Mumbai

022 26113636

Club Abyss

116, off Waterfield Rd,

Bandra Mumbai 022 26408577

Club 9 Jharna,

Bandra. Mumbai 022 26045378

Copa Cabaana

Dariya Vihar, 39/D

Chawpatty

Mumbai 022 23680274

Cyclone The Leela,

Andheri Mumbai 022- 8363636

Deja Vu Hall of Fame,

Mahim

Mumbai 022 24440202

Earthquake 38

Sarvodaya Mill Compound,

Tardeo .

Mumbai 022 24952038

Fashion Bistro 16,

Murzban Road,

C. S. T. Mumbai 022 22077270

Geoffrey's Hotel Marine Plaza,

Marine Drive.

Mumbai 022 22851212

The Ghetto 30

Bhulabhai Desai Road

Mumbai 022 24924725

Grand Canyon

Kumaria Presidency,

Andheri . Mumbai 022 28352601

Head Quarters

166 M G Road,

Colaba

Mumbai 022 22883982

J49 Juhu

Tara road,

Juhu

Mumbai 022 26184546

Madness Ramee International,

Khar

Mumbai 022 26485421

Not Just Jazz By

The Bay Soona Mahal ,

Marine Drive

Mumbai 022 22851876

On Toes 7

Mithila shopping centre,

Juhu Mumbai 022 26144274

Rasna Pub

Jamshedji Tata Road,

Churchgate

Mumbai 022 22820995

Razzberry Rhinoceros

Juhu Hotel,

Juhu .

Mumbai 022 26184012

Scream Hotel Airlink,

Vile Parle.

Mumbai 022 26160150

The Tavern And Beyond

Fariyas Hotel,

Colaba Mumbai 022 2042911

Temptations

Hotel Metro Palace,

Bandra .

Mumbai 022 26427022

Three Flights Up

39 C S Marg,

Apollo Bunder.

Mumbai 022 22852298

Toto's Garage

Off Pali Naka,

Bandra .

Mumbai 022 26435494

Twice As Nice Hotel Parkway,

Dadar .

Mumbai 022 24453361

Wave Horizon Hotel,

Juhu Mumbai 022 26117854

Yoyo's

C. S. T.

Mumbai 022 22076205

Tourism Industry News Dated: 2/11/2007

Vivada Inland Waterways plans to launch three new luxury cruise services

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KLM Royal Dutch Airlines plans to set-up MRO facility in India

KLM Royal Dutch Airlines, the Netherlands based international airline, which flies to India, is considering setting-up a Maintenance Repair and Overhaul (MRO) facility in the country…Read more

Sri Sathya Sai Central Trust looks to sell Puttaparthi airport for Rs 600 crore

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AirAsia bags CAPA Airlines of the Year Award for 2007

'The Gala Awards Ceremony' was held yesterday at the Aviation Outlook Summit 2008 organised by the Centre for Asia Pacific Aviation (CAPA) in Singapore. The ceremony saw AirAsia bagging the CAPA Airlines of the Year Award for 2007. "In aviation history terms, AirAsia's arrival on the international aviation scene is unprecedented…Read more

Aviation Outlook Summit 2008 sees airline decision makers share their views on the issue of alliance

The final session of the first day of Centre for Asia Pacific Aviation (CAPA)'s Aviation Outlook Summit 2008 saw decision markers from three different classes of airlines discuss their views on the issue of alliance…Read more

Industry discusses failure to establish environmental credentials at the Aviation Outlook Summit 2008

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GoAir to operate 39 weekly departures from J&K GoAir will now operate 39 weekly departures from Jammu & Kashmir (J&K).

The increase in the airline's flight operations in J&K is part of the airline's expansion plan that started with the new winter schedule, effective October 28, 2007…Read more

New aviation policy to come up by early 2008

The new civil aviation policy will be announced by early 2008 and would facilitate setting-up of six regional airports by 2008 and 500 mega airports in the next ten years, according to Praful Patel, Minister of Civil Aviation (MoCA)…Read more

J&D to strengthen presence in the outbound incentive segment

New Delhi-based Journeys & Destinations (J&D) India Pvt. Ltd. is keen to strengthen its presence in the outbound incentive segment with customised travel packages to Australia, New Zealand, South Africa, South America, Eastern Europe and Scandinavia…Read more

Maison De La France plans global online specialist programme in 2008

Maison De La France (MDLF), the French Tourist Office, plans to promote France as a mono-destination and is looking to launch a global online specialist programme for the travel trade in 2008…Read more

Saudi keen on strengthening tourism ties among Islamic countries

Saudi Arabia is seeking to spearhead tourism among Islamic countries. The secretary-general for the Supreme Commission for Tourism, Prince Sultan bin Salman, has recently helped open the first forum for tourism in Islamic countries…Read more

Tourists better than gold Tourism has become a lucrative business in South Africa

Bringing in more than R66bn to the economy annually and overtaking gold as the country's largest export earnings…Read more

Jet Airways launches daily flights to New York JFK, four times-weekly service to Toronto Jet Airways has launched daily flights from New Delhi to New York’s John F Kennedy International Airport and from Chennai to Toronto both via the airline’s hub in Brussels. The daily flights commenced on 28 October 2007…Read more

Tourism Industry News Dated: 6/11/2007

IHCL to develop three five-star properties in Bangalore

Indian Hotels Company Limited (IHCL), which owns the Taj Group, is planning to develop three five-star properties in Bangalore by 2010. The proposed properties are slated to come up at ITPL Whitefield by 2008, Yeshwantpur by 2009 and Bannerghatta by 2010…Read more

Goa government looks at increased visibility in movies to attract more tourists The Government of Goa is planning to introduce a film policy to attract more film makers to shoot in the state. This, it believes, will promote Goa's offerings to a large audience of potential travellers and help increase tourist traffic to the state…Read more

Spain to target MICE and leisure segments in India

The National Tourist Office of Spain (NTOS), which has been testing waters in the Indian outbound market for the past couple for years, has decided to establish its presence in the country with three offices in Mumbai by the end of 2008 with a focus on tapping MICE and leisure tourism segments…Read more

Lyon joins race to woo Indian carriers as choice of European hub

Southern French city Lyon is the latest European city that wants Indian carriers to make it their European hub, following efforts by the likes of Brussels and Munich. Brussels succeeded earlier this year in getting Jet Airways to make the city its European hub…Read more

Cougar Resorts & Travels adds lesser-explored destinations to its itinerary Mumbai-based Cougar Resorts & Travels Pvt. Ltd., a travel agent catering to both, B2B and B2C segments, has recently added lesser-known destinations, such as Vietnam, Indonesia, Korea, Philippines, Taiwan, Tahiti, Cambodia, South America and Japan to its list of outbound destinations. According to Arun Raghavan, Director, Cougar Resorts & Travels, the company aims to send about 1,000 passengers to these new destinations by March, 2008…Read more

CGH earth experience to set-up hotels at Puduchery

Kerala-based CGH earth experience is planning to set-up two five-star properties in Puduchery by 2008…Read more

ACE Inc. takes KAT franchise in Mumbai

ACE Inc., the first franchisee of Kuoni Academy of Travel in Mumbai, is expected to start operations later this month. The franchise agreement is for a period of three years and can be renewed…Read more

Andaman and Nicobar Tourism plans to operate a luxury cruise liner by 2008 Andaman and Nicobar Tourism is planning to operate a luxury cruise liner from the Islands to South-East Asian countries like Malaysia and Thailand by end of 2008. The project will be implemented on the basis of the Public Private Partnership (PPP) model and will entail an investment of Rs 30 crore…Read more

Pullickattil Tourism Group to introduce a houseboat with on-board swimming pool

Alappuzha-based Pulickattil Tourism Group, a specialist in convention houseboats, is scheduled to unveil a houseboat with on-board swimming pool on November 10, 2007…Read more

Corporate travel consultancy, 'ProKonsul' to launch by month-end

Gaurav Sundaram, a veteran in the corporate travel segment, is setting-up a corporate travel consultancy, 'ProKonsul' in Bangalore…Read more

New Greek tourism minister tables ambitious agenda

He is young, he is energetic, his name is Aris Spiliotopoulos, the new tourism minister for Greece…Read more Thai aviation update Scandinavian air carriers announce more flights to Thailand, as Thai AirAsia announces last domestic destination….Read more

Indian tourists continue to shy away

from Nepal Alarmed by tales of violence and lawlessness in Nepal carried by the Indian media and lured at the same time by holiday packages for Europe and Southeast Asian countries, Indian tourists are shying away from the Himalayan kingdom that not too long ago was a favourite destination…Read more

Highest keywords search by Google, Yahoo & MSN on my blog is as given below:-

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27. which is the first "low cost" airline to introduce a "tele check in" facility in India

Kerala Travel Mart to hold its fifth travel mart at Kochi in September, 2008

The Kerala Travel Mart (KTM) will hold its fifth travel mart at Kochi from September 20-23, 2008, tentatively. The KTM Society is looking at accommodating 350 KTM members as exhibitors for the event and excellent participation from buyers all across the globe…Read more

Jet Airways hikes fuel surcharge on domestic flights

Jet Airways has hiked fuel surcharge up by Rs 150 on all type of tickets for domestic flights in India. This makes the revised fuel surcharge stand at Rs 1,350. Further, a surcharge of USD 34 will be applicable on each sector of domestic travel in India…Read more

Rescheduling of Golden Chariot's launch results in loss of USD 8,00,000

The launch of Golden Chariot, Karnataka's super luxury train, has been postponed to December, 2007, as the work on its interiors, which is inspired by Hampi and Mysore Palace's architecture, is not yet complete…Read more

Land acquisition for Mohali international airport to start by December, 2007 Acquisition of land for the Mohali International Airport, a Joint Venture (JV) between the Airports Authority of India (AAI) and the Great Mohali Area Development Authority (GMADA) is likely to begin by December, 2007…Read more

Deccan Aviation forms consortium to bid for airport projects

Deccan Aviation has formed a consortium with Nitin Raheja Group, IDFC and GVK Group to bid for airport projects in tier II and tier III cities across the country…Read more

Spain-based Catai Tours sets-up an Indian division

Spain-based Catai Tours has entered the Indian market by setting-up Catai India Pvt. Ltd.'s office in New Delhi. This is the company's first overseas office which will be followed by an office in China. The company's major clientele includes outbound travellers to India, China and South-East Asia, which explains its entry into the Indian market…Read more

Now you can dial 139 for booking hotels

Your hotel booking woes may be over. You can dial 139, the railway inquiry number, also to book hotel rooms in any part of the country…Read more

Incredible India pavilion at China International Travel Mart attracts visitors

The ministry of tourism's Incredible India pavilion has turned out to be a big draw at the China International Travel Mart 2007 being held from 1 November to 4 November in China's Kunming city…Read more

Council to oppose more busway corridors

Due to Jakarta's continuing traffic woes, the City Council plans to reject transportation agency plans to construct a further five busway corridors in 2008…Read more

Jet set for Brussels hotel venture Jet Airways is getting into hospitality venture.

Naresh Goyal-owned airline has acquired 15 acres near the Brussels airport in Belgium. The airline said this 500-room five-star deluxe hotel would mainly target Jet passengers who transit through its base in Brussels and the airline crew. It would also have a catering kitchen to serve all Jet flights originating from Belgium and London…Read more

Indian kitchens: A cuisine tourism hub It is not just about epicureans alone.

If the world is itching to gorge on exquisite Indian cuisine, the Indian kitchen is turning into a hub for cuisine tourism across the sub-continent…Read more

Tourism Industry News Dated: 8/11/2007

ANTO to promote Austria as year-round tourist destination

The Austrian National Tourist Office (ANTO) is now looking to promote Austria as a year-round tourist destination in India, with special focus on the honeymoon, leisure and Meetings, Incentives, Conferences and Exhibitions (MICE) segments. Besides, it is also planning to promote the destination as a shooting locale to the Bollywood, as well as the regional film industry players…Read more

Kerala to target inbound tourists and NRIs for its grand shopping festival

The Department of Tourism, Kerala is organising the 'Grand Kerala Shopping Festival' that is scheduled to take-off on December 1, 2007…Read more

Deccan launches mobile flight booking services in partnership with Oxigen

Deccan recently announced the launch of mobile flight booking services in partnership with Oxigen, a one-stop online solution provider. The service called 'mFly', is a pre-paid facility that can be accessed on GSM and CDMA phones once the user creates an account by logging on to the airline's website…Read more

Karnataka Tourism Forum to conduct training programmes in mid-November

Karnataka Tourism Forum (KTF), a non-profit organisation comprising professionals in the tourism industry in Karnataka, is scheduled to conduct training programmes for travel agents, tour operators, hotel staff, taxi drivers and auto drivers in mid-November, 2007 at Belur, Chikmagalur, Mysore and Coorg…Read more

Udaan to introduce collection centres by next month

Udaan, a New Delhi-based visa facilitator, is planning to set-up collection centres to make its services more accessible to travel agents in other cities…Read more

Marriott launches regional operational base in Mumbai

Marriott International Inc. announced the launch of its regional operational base and global sales office in Mumbai yesterday. Rajeev Menon, Area Vice President, Marriott International Inc, will head the operational base and be responsible for the India, Pakistan, Maldives and Malaysia markets, while Anant Joshi, Regional Director, India and Subcontinent, Marriott International Inc, will head the global sales office…Read more

MakeMyTrip.com launches 'GO' travel card in association with ABN AMRO Bank MakeMyTrip.com

has partnered with ABN AMRO Bank to launch a co-branded travel credit card 'GO'. The card can be used to purchase domestic and international travel services. Card holders are also entitled to membership of a rewards programme called 'GO Miles'…Read more

Singapore concludes air transport agreement with Canada

Singapore and Canada have initiated a new air transport agreement, following bilateral air services consultations in Ottawa, Canada from 30 October to 1 November 2007 in Ottawa, Canada. Under the new bilateral agreement, Singapore carriers are allowed to operate passenger and all-cargo flights…Read more

HSMAI Foundation partners with Open Hospitality

The Hospitality Sales & Marketing Association International Foundation has named Open Hospitality, the New York-based Web reservation and management solutions company for hoteliers, to the HSMAI Foundation Board Research Committee for 2007-08. Through this relationship…Read more

Global travel and tourism leaders to convene in Dubai

Dubai will be the host state of the Global Travel & Tourism Summit taking place on April 20-22, 2008 as the World Travel & Tourism Council (WTTC) announced. At the official launch, His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Department of Civil Aviation…Read more

Plan to boost eco-tourism in the Western Ghats

Western Ghats, a paradise for trekkers, has some of the best and least explored tracks apart from many oft-trodden paths in its dense forests…Read more

Hong Kong promotes Olympic tourism

Equestrian steps performed by Hong Kong dancers attracted passers-by at Wangfujing in Beijing on Monday…Read more

Insurance

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage.

Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. Principles of insurance Commercially insurable risks typically share seven common characteristics.

1. A large number of homogeneous exposure units. The vast majority of insurance policies are provided for individual members of very large classes. Automobile insurance, for example, covered about 175 million automobiles in the United States in 2004. The existence of a large number of homogeneous exposure units allows insurers to benefit from the so-called “law of large numbers,” which in effect states that as the number of exposure units increases, the actual results are increasingly likely to become close to expected results.

There are exceptions to this criterion. Lloyds of London is famous for insuring the life or health of actors, actresses and sports figures. Satellite Launch insurance covers events that are infrequent. Large commercial property policies may insure exceptional properties for which there are no ‘homogeneous’ exposure units. Despite failing on this criterion, many exposures like these are generally considered to be insurable.

2. Definite Loss. The event that gives rise to the loss that is subject to insurance should, at least in principle, take place at a known time, in a known place, and from a known cause. The classic example is death of an insured on a life insurance policy. Fire, automobile accidents, and worker injuries may all easily meet this criterion.

Other types of losses may only be definite in theory. Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements.

3. Accidental Loss. The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be ‘pure,’ in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements, such as ordinary business risks, are generally not considered insurable.

4. Large Loss. The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses these latter costs may be several times the size of the expected cost of losses. There is little point in paying such costs unless the protection offered has real value to a buyer.

5. Affordable Premium. If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that anyone will buy insurance, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards (See FAS 113 for example), the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, the transaction may have the form of insurance, but not the substance.

6. Calculable Loss. There are two elements that must be at least estimatable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim. Limited risk of catastrophically large losses. The essential risk is often aggregation. If the same event can cause losses to numerous policyholders of the same insurer, the ability of that insurer to issue policies becomes constrained, not by factors surrounding the individual characteristics of a given policyholder, but by the factors surrounding the sum of all policyholders so exposed. Typically, insurers prefer to limit their exposure to a loss from a single event to some small portion of their capital base, on the order of 5%. Where the loss can be aggregated, or an individual policy could produce exceptionally large claims, the capital constraint will restrict an insurers appetite for additional policyholders.

The classic example is earthquake insurance, where the ability of an underwriter to issue a new policy depends on the number and size of the policies that it has already underwritten. Wind insurance in hurricane zones, particularly along coast lines, is another example of this phenomenon. In extreme cases, the aggregation can affect the entire industry, since the combined capital of insurers and reinsurers can be small compared to the needs of potential policyholders in areas exposed to aggregation risk. In commercial fire insurance it is possible to find single properties whose total exposed value is well in excess of any individual insurer’s capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the reinsurance market. Indemnification An entity seeking to transfer risk (an individual, corporation, or association of any type, etc.) becomes the 'insured' party once risk is assumed by an 'insurer', the insuring party, by means of a contract, called an insurance 'policy'. Generally, an insurance contract includes, at a minimum, the following elements: the parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss), and exclusions (events not covered).

An insured is thus said to be "indemnified" against the loss events covered in the policy. When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a 'claim' against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the 'premium'. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims—in theory for a relatively few claimants—and for overhead costs. So long as an insurer maintains adequate funds set aside for anticipated losses (i.e., reserves), the remaining margin is an insurer's profit. When is a Policy Really Insurance? An operational definition of insurance is that it is · the benefit provided by a particular kind of indemnity contract, called an insurance policy; · that is issued by one of several kinds of legal entities (stock company, mutual company, reciprocal, or Lloyds organization, for example), any of which may be called an insurer; · in which the insurer promises to pay on behalf of or to indemnify another party, called a policyholder or insured; · that protects the insured against loss caused by those perils subject to the indemnity in exchange for consideration known as an insurance premium. In recent years this kind of operational definition proved inadequate as a result of contracts that had the form but not the substance of insurance.

The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s.

The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commericial enterprises. Does the Contract Contain Adequate Risk Transfer? FAS 113 contains two tests, called the '9a and 9b tests,' that collectively require that a contract create a reasonable chance of a significant loss to the underwriter for it to be considered insurance. 9. Indemnification of the ceding enterprise against loss or liability relating to insurance risk in reinsurance of short-duration contracts requires both of the following, unless the condition in paragraph 11 is met: a. The reinsurer assumes significant insurance risk under the reinsured portions of the underlying insurance contracts. b. It is reasonably possible that the reinsurer may realize a significant loss from the transaction. Paragraph 10 of FAS 113 makes clear that the 9a and 9b tests are based on comparing the present value of all costs to the PV of all income streams.

FAS gives no guidance on the choice of a discount rate on which to base such a calculation, other than to say that all outcomes tested should use the same rate. Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' - the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes.

The choice of an "reasonable and appropriate" discount rate is left as a matter of judgement. Is There a Brightline Test? Neither FAS 113 nor SAP 62 defines the terms "reasonable" or "significant." Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X% chance of a loss of Y% or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that a 10% chance of a 10% loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing. It should be obvious that an attempt to use any numerical rule such as the 10/10 test will quickly run into problems. Suppose a contract has a 1% chance of a 10,000% loss? It should be reasonably self-evident that such a contract is insurance, but it fails one half of the 10/10 test. It does not appear that any "brightline" test of reasonableness nor signifance can be constructed.

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyds of London, will typically be low for contracts that contain reasonably self-evident risk transfer.

As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears. Contracts with low rates on line may survive modest features that limit the amount of risk transferred. As rates on line increase, such risk limiting features become increasingly important. "Safe Harbor Exemptions" The analysis of reasonableness and signifiance is an estimate of the probability of different gain or loss outcomes under different loss scenarios. It takes time and resources to perform the analysis, which constitutes a burden without value where risk transfer is reasonably self-evident. Guidance exists for insurers and reinsurers, whose CEO's and CFO's attest annually as to the reinsurance agreements their firms undertake. The American Academy of Actuaries, for instance, identifies three categories of contract as outside the requirement of attestation: Inactive contracts. If there are no premiums due nor losses payable, and the insurer is not taking any credit for the reinsurance, determining risk transfer is irrelevant. Pre-1994 contracts.

The attestation requirement only applies to contracts that were entered into, renewed or amended on or after 1 January 1994. Prior contracts need not be analyzed. Where risk transfer is "reasonably self-evident." "Risk transfer is reasonably self-evident in most traditional per-risk or per-occurrence excess of loss reinsurance contracts.

For these contracts, a predetermined amount of premium is paid and the reinsurer assumes nearly all or all of the potential variablility in the underlying losses, and it is evident from reading the basic terms of the contract that the reinsurer can incur a significant loss. In many cases, there is no aggregate limit on the reinsurer's loss.

The existence of certain experience-based contract terms, such as experience accounts, profit commissions, and additional premiums, generally reduce the amount of risk transfer and make it less likely that risk transfer is reaonably self-evident." Risk Limiting Features An insurance policy should not contain provisions that allow one side or the other to unilaterally void the contract in exchange for benefit. Provisions that void the contract for failure to perform or for fraud or material misrepresentation are ordinary and acceptable.

The policy should have a term of not more than about three years. This is not a hard and fast rule. Contracts of over five years duration are classified as ‘long-term,’ which can impact the accounting treatment, and can obviously introduce the possibility that over the entire term of the contract, no actual risk will transfer.

The coverage provided by the contract need not cease at the end of the term (e.g., the contract can cover occurrences as opposed to claims made or claims paid). The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an ‘Entire Agreement’ clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

The contract should not contain arbitrary limitations on timing of payments. Provisions that assure both parties of time to properly present and consider claims are acceptable provided they are commercially reasonable and customary.

Provisions that expressly create actual or notional accounts that accrue actual or notional interest suggest that the contract contains, in fact, a deposit. Provisions for additional or return premium do not, in and of themselves, render a contract something other than insurance. However, it should be unlikely that either a return or additional premium provision be triggered, and neither party should have discretion regarding the timing of such triggering.

All of the events that would give rise to claims under the contract cannot have materialized prior to the inception of the contract. If this "all events" test is not met, then the contract is considered to be a retroactive contract, for which the accounting treatment becomes complex. Insurer’s business model Profit = earned premium + investment income - incurred loss - underwriting expenses. Insurers make money in two ways: (1) through underwriting, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks and (2) by investing the premiums they collect from insureds. The most difficult aspect of the insurance business is the underwriting of policies. Using a wide assortment of data, insurers predict the likelihood that a claim will be made against their policies and price products accordingly.

To this end, insurers use actuarial science to quantify the risks they are willing to assume and the premium they will charge to assume them. Data is analyzed to fairly accurately project the rate of future claims based on a given risk.

Actuarial science uses statistics and probability to analyze the risks associated with the range of perils covered, and these scientific principles are used to determine an insurer's overall exposure. Upon termination of a given policy, the amount of premium collected and the investment gains thereon minus the amount paid out in claims is the insurer's underwriting profit on that policy. Of course, from the insurer's perspective, some policies are winners (i.e., the insurer pays out less in claims and expenses than it receives in premiums and investment income) and some are losers (i.e., the insurer pays out more in claims and expenses than it receives in premiums and investment income).

An insurer's underwriting performance is measured in its combined ratio. The loss ratio (incurred losses and loss-adjustment expenses divided by net earned premium) is added to the expense ratio (underwriting expenses divided by net premium written) to determine the company's combined ratio.

The combined ratio is a reflection of the company's overall underwriting profitability. A combined ratio of less than 100 percent indicates profitability, while anything over 100 indicates a loss. Insurance companies also earn investment profits on “float”. “Float” or available reserve is the amount of money, at hand at any given moment, that an insurer has collected in insurance premiums but has not been paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest on them until claims are paid out. In the United States, the underwriting loss of property and casualty insurance companies was $142.3 billion in the five years ending 2003. But overall profit for the same period was $68.4 billion, as the result of float.

Some insurance industry insiders, most notably Hank Greenberg, do not believe that it is forever possible to sustain a profit from float without an underwriting profit as well, but this opinion is not universally held. Naturally, the “float” method is difficult to carry out in an economically depressed period. Bear markets do cause insurers to shift away from investments and to toughen up their underwriting standards. So a poor economy generally means high insurance premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known as the "underwriting" or "insurance" cycle. Property and casualty insurers currently make the most money from their auto insurance line of business. Generally better statistics are available on auto losses and underwriting on this line of business has benefited greatly from advances in computing. Additionally, property losses in the US, due to natural catastrophes, have exacerbated this trend. Finally, claims and loss handling is the materialized utility of insurance.

In managing the claims-handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages. As part of this balancing act, insurance fraud is a major business risk that must be managed and overcome. History of insurance In some sense we can say that insurance appears simultaneously with the appearance of human society.

We know of two types of economies in human societies: money economies (with markets, money, financial instruments and so on) and non-money or natural economies (without money, markets, financial instruments and so on). The second type is a more ancient form than the first. In such an economy and community, we can see insurance in the form of people helping each other. For example, if a house burns down, the members of the community help build a new one. Should the same thing happen to one's neighbour, the other neighbours must help. Otherwise, neighbours will not receive help in the future.

This type of insurance has survived to the present day in some countries where modern money economy with its financial instruments is not widespread (for example countries in the territory of the former Soviet Union). Turning to insurance in the modern sense (i.e., insurance in a modern money economy, in which insurance is part of the financial sphere), early methods of transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively.

Chinese merchants traveling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen. Achaemenian monarchs were the first to insure their people and made it official by registering the insuring process in governmental notary offices.

The insurance tradition was performed each year in Norouz (beginning of the Iranian New Year); the heads of different ethnic groups as well as others willing to take part, presented gifts to the monarch. The most important gift was presented during a special ceremony. When a gift was worth more than 10,000 Derrik (Achaemenian gold coin weighing 8.35-8.42) the issue was registered in a special office.

This was advantageous to those who presented such special gifts. For others, the presents were fairly assessed by the confidants of the court. Then the assessment was registered in special offices. The purpose of registering was that whenever the person who presented the gift registered by the court was in trouble, the monarch and the court would help him. Jahez, a historian and writer, writes in one of his books on ancient Iran: "[W]henever the owner of the present is in trouble or wants to construct a building, set up a feast, have his children married, etc. the one in charge of this in the court would check the registration.

If the registered amount exceeded 10,000 Derrik, he or she would receive an amount of twice as much." A thousand years later, the inhabitants of Rhodes invented the concept of the 'general average'. Merchants whose goods were being shipped together would pay a proportionally divided premium which would be used to reimburse any merchant whose goods were jettisoned during storm or sinkage. The Greeks and Romans introduced the origins of health and life insurance c. 600 AD when they organized guilds called "benevolent societies" which cared for the families and paid funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose. The Talmud deals with several aspects of insuring goods. Before insurance was established in the late 17th century, "friendly societies" existed in England, in which people donated amounts of money to a general sum that could be used for emergencies. Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates.

These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance. Insurance became far more sophisticated in post-Renaissance Europe, and specialized varieties developed.

Toward the end of the seventeenth century, London's growing importance as a center for trade increased demand for marine insurance. In the late 1680s, Mr. Edward Lloyd opened a coffee house that became a popular haunt of ship owners, merchants, and ships’ captains, and thereby a reliable source of the latest shipping news. It became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures. Today, Lloyd's of London remains the leading market (note that it is not an insurance company) for marine and other specialist types of insurance, but it works rather differently than the more familiar kinds of insurance. Insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured 13,200 houses. In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, "The Fire Office," to insure brick and frame homes. The first insurance company in the United States underwrote fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina, in 1732. Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly against fire in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses. In the United States, regulation of the insurance industry is highly Balkanized, with primary responsibility assumed by individual state insurance departments. Whereas insurance markets have become centralized nationally and internationally, state insurance commissioners operate individually, though at times in concert through a national insurance commissioners' organization. In recent years, some have called for a dual state and federal regulatory system for insurance similar to that which oversees state banks and national banks. In the state of New York, which has unique laws in keeping with its stature as a global business center, former New York Attorney General Eliot Spitzer was in a unique position to grapple with major national insurance brokerages. Spitzer alleged that Marsh & McLennan steered business to insurance carriers based on the amount of contingent commissions that could be extracted from carriers, rather than basing decisions on whether carriers had the best deals for clients. Several of the largest commercial insurance brokerages have since stopped accepting contingent commissions and have adopted new business models.

Types of insurance Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as "perils". An insurance policy will set out in detail which perils are covered by the policy and which are not. Below is a (non-exhaustive) list of the many different types of insurance that exist.

A single policy may cover risks in one or more of the categories set forth below. For example, auto insurance would typically cover both property risk (covering the risk of theft or damage to the car) and liability risk (covering legal claims from causing an accident).

A homeowner's insurance policy in the U.S. typically includes property insurance covering damage to the home and the owner's belongings, liability insurance covering certain legal claims against the owner, and even a small amount of health insurance for medical expenses of guests who are injured on the owner's property. Automobile insurance, known in the UK as motor insurance, is probably the most common form of insurance and may cover both legal liability claims against the driver and loss of or damage to the insured's vehicle itself.

Throughout most of the United States an auto insurance policy is required to legally operate a motor vehicle on public roads. In some jurisdictions, bodily injury compensation for automobile accident victims has been changed to a no-fault system, which reduces or eliminates the ability to sue for compensation but provides automatic eligibility for benefits. Aviation insurance insures against hull, spares, deductible, hull war and liability risks.

Boiler insurance (also known as boiler and machinery insurance or equipment breakdown insurance) insures against accidental physical damage to equipment or machinery. Builder's risk insurance insures against the risk of physical loss or damage to property during construction. Builder's risk insurance is typically written on an "all risk" basis covering damage due to any cause (including the negligence of the insured) not otherwise expressly excluded. Business insurance can be any kind of insurance that protects businesses against risks.

Some principal subtypes of business insurance are (a) the various kinds of professional liability insurance, also called professional indemnity insurance, which are discussed below under that name; and (b) the businessowners policy (BOP), which bundles into one policy many of the kinds of coverage that a businessowner needs, in a way analogous to how homeowners insurance bundles the coverages that a homeowner needs. Casualty insurance insures against accidents, not necessarily tied to any specific property. Credit insurance repays some or all of a loan back when certain things happen to the borrower such as unemployment, disability, or death. Mortgage insurance (which see below) is a form of credit insurance, although the name credit insurance more often is used to refer to policies that cover other kinds of debt. Crime insurance insures the policyholder against losses arising from the criminal acts of third parties. For example, a company can obtain crime insurance to cover losses arising from theft or embezzlement. Crop insurance "Farmers use crop insurance to reduce or manage various risks associated with growing crops. Such risks include crop loss or damage caused by weather, hail, drought, frost damage, insects, or disease, for instance." Defense Base Act Workers' compensation or DBA Insurance insurance provides coverage for civilian workers hired by the government to perform contracts outside the US and Canada. DBA is required for all US citizens, US residents, US Green Card holders, and all employees or subcontractors hired on overseas government contracts. Depending on the country, Foreign Nationals must also be covered under DBA.

This coverage typically includes expenses related to medical treatment and loss of wages, as well as disability and death benefits. Directors and officers liability insurance protects an organization (usually a corporation) from costs associated with litigation resulting from mistakes incurred by directors and officers for which they are liable. In the industry, it is usually called "D&O" for short. Disability insurance policies provide financial support in the event the policyholder is unable to work because of disabling illness or injury.

It provides monthly support to help pay such obligations as mortgages and credit cards. Total permanent disability insurance insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance. Errors and omissions insurance: See "Professional liability insurance" under "Liability insurance". Expatriate insurance provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.

Financial loss insurance protects individuals and companies against various financial risks. For example, a business might purchase cover to protect it from loss of sales if a fire in a factory prevented it from carrying out its business for a time. Insurance might also cover the failure of a creditor to pay money it owes to the insured. This type of insurance is frequently referred to as "business interruption insurance." Fidelity bonds and surety bonds are included in this category, although these products provide a benefit to a third party (the "obligee") in the event the insured party (usually referred to as the "obligor") fails to perform its obligations under a contract with the obligee. Fire insurance: See "Property insurance".

Hazard insurance: See "Property insurance". Health insurance policies will often cover the cost of private medical treatments if the National Health Service in the UK (NHS) or other publicly-funded health programs do not pay for them. It will often result in quicker health care where better facilities are available. Home insurance or homeowners insurance: See "Property insurance". Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage.

For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of willful or intentional acts by the insured.

Environmental liability insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants. Professional liability insurance, also called professional indemnity insurance, protects professional practitioners such as architects, lawyers, doctors, and accountants against potential negligence claims made by their patients/clients. Professional liability insurance may take on different names depending on the profession.

For example, professional liability insurance in reference to the medical profession may be called malpractice insurance. Notaries public may take out errors and omissions insurance (E&O). Other potential E&O policyholders include, for example, real estate brokers, home inspectors, appraisers, and website developers. Life insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.

Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance. Locked funds insurance is a little-known hybrid insurance policy jointly issued by governments and banks. It is used to protect public funds from tamper by unauthorised parties.

In special cases, a government may authorise its use in protecting semi-private funds which are liable to tamper. The terms of this type of insurance are usually very strict. Therefore it is used only in extreme cases where maximum security of funds is required. Marine insurance and marine cargo insurance cover the loss or damage of ships at sea or on inland waterways, and of the cargo that may be on them. When the owner of the cargo and the carrier are separate corporations, marine cargo insurance typically compensates the owner of cargo for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier or the carrier's insurance.

Many marine insurance underwriters will include "time element" coverage in such policies, which extends the indemnity to cover loss of profit and other business expenses attributable to the delay caused by a covered loss. Mortgage insurance insures the lender against default by the borrower. National Insurance is the UK's version of social insurance (which see below). No-fault insurance is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident. Nuclear incident insurance covers damages resulting from an incident involving radioactivive materials and is generally arranged at the national level. (For the United States, see the Price-Anderson Nuclear Industries Indemnity Act.) Pet insurance insures pets against accidents and illnesses - some companies cover routine/wellness care and burial, as well. Political risk insurance can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions will result in a loss. Pollution Insurance.

A first-party coverage for contamination of insured property either by external or on-site sources. Coverage for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks. Intentional acts are specifically excluded Property insurance provides protection against risks to property, such as fire, theft or weather damage.

This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance. Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance. Such insurance is normally very limited in the scope of problems that are covered by the policy. Retrospectively Rated Insurance is a method of establishing a premium on large commercial accounts. The final premium is based on the insured's actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, the current year's premium is based partially (or wholly) on the current year's losses, although the premium adjustments may take months or years beyond the current year's expiration date.

The rating formula is guaranteed in the insurance contract. Formula: retrospective premium = converted loss + basic premium × tax multiplier. Numerous variations of this formula have been developed and are in use. Social insurance can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverages (including components of life insurance, disability income insurance, unemployment insurance, health insurance, and others), plus retirement savings, that mandates participation by all citizens. By forcing everyone in society to be a policyholder and pay premiums, it ensures that everyone can become a claimant when or if he/she needs to.

Along the way this inevitably becomes related to other concepts such as the justice system and the welfare state. This is a large, complicated topic that engenders tremendous debate, which can be further studied in the following articles (and others): Social welfare provision Social security Social safety net National Insurance Social Security (United States) Social Security debate (United States) Terrorism insurance provides protection against any loss or damage caused by terrorist activities. Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances. It is usually issued in conjunction with a search of the public records performed at the time of a real estate transaction.

Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, lost of personal belongings, travel delay, personal liabilities, etc. Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expense incurred because of a job-related injury.