WeatherBill, itravel2000 ink deal

WeatherBill has entered into an agreement with
itravel2000.com, Canada’s largest online travel retailer, to provide
coverage for Canada’s biggest travel promotion, “Let it Snow”. Under the
terms of the agreement, WeatherBill will provide up to $100 million CDN in
snow coverage, slated to be refunded to itravel2000 customers if it snows 5
inches or more at Calgary, Halifax, Montreal or Toronto airports on New
Years Day, January 1, 2008.
  “This partnership is a milestone in both travel and weather
promotions,” says David Friedberg, CEO of WeatherBill. “Our significant
risk capacity and simple, automated service for managing weather risk and
promotions is the perfect solution for the large scale of ‘Let it Snow’.
WeatherBill eliminates the time, expense and hassle of typical promotions -
there’s no unnecessary paperwork, redemption process or waiting for
payment. itravel2000 simply purchases coverage in increments to perfectly
mirror customer sales, and there are no upfront set-up costs,
administrative fees, minimums or maximums.”
  Jonathan Carroll, President of itravel2000, said, “We’ve been looking
for a partner to help us deliver ground breaking weather promotions for
some time. We’re delighted with WeatherBill’s innovative solution and
expect big results. The universal appeal of weather promotions and the
excitement created by weather make ‘Let it Snow’ ideal. Best of all,
itravel2000 is able to offer a generous ‘full refund’ to customers without
typical rebate redemption burden. We can’t think of a better way to spread
the word about our diverse, comprehensive and low-cost offerings, while
thanking customers for their patronage.”
  Following the announcement, WeatherBill also launched
http://www.weatherbill.ca, entering the Canadian market with the addition of 98
weather stations to the WeatherBill coverage network. “Adding Canada to our
existing 370 station U.S. network allows us to immediately fulfill demand
from Canadian businesses, ranging from agricultural growers to construction
firms to travel and leisure service providers. We also move one step closer
to providing global coverage to help businesses everywhere protect against
the impact of bad weather,” said Friedberg.
  WeatherBill, Inc. (http://www.weatherbill.com) provides the only online
service that allows businesses to protect revenue and control costs from
the impact of bad weather. Founded by CEO David Friedberg and CTO Siraj
Khaliq, former members of the Google team, WeatherBill is funded by New
Enterprise Associates and Index Ventures and is backed by Nephila Capital,
one of the world’s largest weather risk and catastrophe reinsurance fund
managers.
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