Tuesday, April 29, 2008

WeatherBill In Partnership With Reinsurance Provider

San Francisco-based WeatherBill, a provider of an online, predictive marketplace for managing weather risk, said Tuesday that it has signed a new agreement with reinsurnace provider Nephila Capital. According to WeatherBill, Nephila will continue to provide the firm with risk capacity and collateral for its weather insurance coverage. WeatherBill's service allows anyone to purchase insurance against bad weather; the firm is venture backed by New Enterprise Assocaites, Index Ventures, and Allen & Company. David Friedberg, the firm's CEO, and Siraj Khaliq, the firm's CTO, are former Googlers.