Occupational Accident - the trending insurance coverage you’ve never heard of

Unless you have a specialty in the trucking industry, chances are you know nothing about occupational accident, and that’s okay. In fact, up until the early 2010s, occupational accident was a product ONLY serving trucking clients.

In recent years, there has been a growing trend of states considering laws that require companies [outside of trucking] to provide occupational accident insurance for their independent contractors. These laws are designed to protect workers who are injured on the job and to ensure that they have access to medical care and lost wages benefits.

As of March 8, 2023, there are 14 states that are considering a bill to require occupational accident insurance for gig workers:

• California

• Colorado

• Illinois

• Maryland

• Massachusetts

• New Jersey

• New York

• Oregon

• Pennsylvania

• Rhode Island

• Texas

• Washington

• Wisconsin

There are a number of reasons why states are adopting these laws. One reason is that the number of workplace injuries has been rising in recent years. According to the Bureau of Labor Statistics, there were over 3 million workplace injuries in 2020, resulting in over 50,000 deaths. Another reason is that the cost of workers' compensation has been rising, putting a strain on businesses and taxpayers.

My hybrid model of occupational accident, contingent liability, and workers compensation can save your company or clients tens if not hundreds of thousands of dollars. It’s a pay-as-you-go policy. It’s flexible [rating per day/mile/hour/month/job/delivery]. It’s easy to administer. Claims are quick and easy. Why isn’t everyone talking about it?

If your app-based or on-demand company has had issues with workers compensation audits charging you for all your independent contractors, if you’re already paying work comp on all your 1099 workers, or if you’ve been searching for occupational accident - talk to me and get educated on occupational accident.

Retail agents, software companies, and marketplaces reach out to me at

ryner@citadelus.com

608-466-6825