DENVER—(BUSINESS WIRE)—February 10, 2009— Intermap Technologies today announced that its flood modeling application used to assess address-specific flood risk throughout the Czech Republic is now commercially available to the general public. The application is available on the Czech Insurance Association’s (ČAP) web site for all consumers interested in obtaining property information for flood prone areas in the Czech Republic.
The flood risk application focuses on the watercourses at risk of causing property damage for 210 of the larger cities and towns in the country. After selecting a specific property, users automatically receive an insurance risk report specifying potential risks related to their selection.
Until recently, flood risk information has only been available to insurance companies during the underwriting and risk management process. With the launch of this application, this valuable information is available to any interested party; ranging from insurance customers, lenders, and banks to land developers and home buyers.
“The Association decided to make the system open to the public. Before, it was solely used by ČAP members when assessing flood risk and calculating rates for customers insuring property. The release of this application means that the public can now use the same tools that the insurance industry uses for flood risk assessment in the Czech Republic. For example, consumers can easily check an individual property location and find out what their insurance options are,” explained Tomáš Síkora, the chief executive of ČAP.
Intermap used numerous sources to create the flood risk zones in the application including SwissRe, one of the world’s leading reinsurers and a project partner that provided its geomorphological regression model to support the flood zone delineation.
“Intermap is very pleased to provide a tool that accurately delineates flood zones, thereby allowing the public to confidently assess flood risks when purchasing property or for other applications,” said Dr. Manfred Krischke, vice president, Europe for Intermap Technologies. “This fundamental change in the risk management market is a result of the Company’s vision to enable individuals worldwide with the power of knowledge through geospatial applications.”
About Intermap Technologies
Intermap (TSX: IMP.TO) (AIM: IMAP.L) is a preeminent digital mapping company creating uniform high-resolution 3D digital models of the earth’s surface. The Company is proactively remapping entire countries and building uniform national databases, called NEXTMap®, consisting of affordably priced elevation data and geometric images of unprecedented accuracy. Demand for NEXTMap data is growing as new commercial applications emerge within the GIS, engineering, automotive, GPS maps, insurance risk assessment, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap employs more than 850 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, Paris, Prague, and Washington, D.C. For more information, visit www.Intermap.com.
NEXTMap® is a registered trademark of Intermap Technologies Corporation.
Czech Insurance Association is an association of 26 commercial insurance companies representing in total 97.8% of insurance premiums in the Czech Republic. The Association represents, defends, and promotes the interests of member insurance companies and their clients in relation to the state administrative authorities, experts and the general public, and promotes the interests of the Czech insurance market within the European Union. Czech Insurance Association supports on a long term basis development of the insurance industry and insurance market in the Czech Republic.
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate," "expect," "project," "estimate," "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.