Today's economy has seen a rise in virtual employment through internet or work-from-home positions. Many companies offer gig employment, work based on a single item or need rather than by the hour. Using online platforms or software apps to conduct business allows companies to finish jobs with an on-demand workforce that is completely removed from their physical location. For these employers, gig insurance might protect the company from several liability claims.
Insurance for Workers
Most companies offer workers' compensation for incidents involving employees. Because those meeting the demands for gig jobs are often independent contractors, the laws and regulations governing coverage are different. However, there are still liabilities associated with independent contractors and their activities. Occupational accident insurance (OAI) becomes a good choice for protection. This specialized policy offers benefits including:
- Accidental death
- Medical expenses associated with workplace injuries
- Temporary or permanent disability
Occupational Accident Policy
The coverage usually found in a company's general liability policy is not comprehensive and capable of addressing gig liabilities. General liability is best for on-site concerns to property and equipment. It rarely provides benefits in the case of employee accidents off-site. Using an OAI policy often costs less than traditional workers' compensation policies, but is tailored to the risks of contracted work.
Gig insurance will protect your company from claims associated with employee incidents and accidents that fall outside the bounds of traditional liability coverage.