Freelancers make up a significant percentage of the information technology workforce, but until recently, getting Workers’ Compensation insurance as an IT freelancer was almost impossible. Now, WorkMarket platform, a firm that allows companies access to IT and other workers, has introduced its own Workers’ Compensation option.
The option—WorkMarket’s 1099 Workers’ Compensation—allows clients to protect themselves and their freelance contractors should they suffer an on-the-job injury. The availability of this option may fuel the demand for freelance IT contractors in various industries. WorkMarket has partnered with a leading insurance company to make freelance Workers’ Compensation a reality.
Lawsuits and Injured Freelancers
The rationale behind Workers’ Compensation is not only to pay medical and other expenses of employees injured on the job. It is also serves to benefit employers as injured workers cannot receive Workers’ Compensation and also sue their employer.
When an IT or other freelancer not covered by Workers’ Compensation is injured in the workplace, sometimes their only option is to sue their employer to pay their medical bills and provide an income.
The same holds true for part-time employees who do not fall under the federal government mandate for Workers’ Compensation coverage. Depending on the circumstances, those suits and settlements can cost up to millions of dollars.
It is in everyone’s best interest for companies to provide Workers’ Compensation.
The WorkMarket Option
Currently, WorkMarket serves approximately 300 clients. Its Workers’ Compensation option allows these companies to decide what kind of coverage they want for particular projects, but the choice to cover freelancers is all or nothing – there is no partial coverage.
Companies receive a certificate of coverage for freelancers, which can be used as proof of insurance if an IT freelancer is working as a contractor in a consulting position for a company requiring Workers’ Compensation coverage.
As with any other type of Workers’ Compensation, injured contractors deal directly with the insurance company, not the contracted company. As also with standard plans, it is the company who pays for the insurance, not the contractor.
WorkMarket’s website states that its Workers’ Compensation offering is statutory and has no monetary limits. Should an injured freelancer decide to sue the contracted company regardless of the Workers’ Compensation coverage, WorkMarket offers an insurance policy to cover the company for up to $1 million to pay related legal expenses.
If a freelancer covered under WorkMarket’s 1099 Workers Compensation is injured on the job, the company provides a support team who submits the claim on a company’s behalf to the insurance company.
Philadelphia Workers’ Compensation Lawyers at the Law Offices of Jeffrey S. Gross Advocate for Injured IT FreelancersIf you or someone you love has been injured on the job, contact a Philadelphia Workers’ Compensation lawyer at the Law Offices of Jeffrey S. Gross. Call 267-589-0090 or complete our online form to schedule an initial consultation. Our offices are located in Philadelphia, allowing us to serve Pennsylvania and New Jersey.