US start - up Verifly is now offering unemployment insurance to freelancers and gig economy workers , with $ 100 monthly policies available for as little as $ 5 per hour , per job . The app - based system uses customers ' postcode to calculate their risk profile and analyses historical loss rates to determine a policy ##holder . Verifly said costs vary depending on what the worker does for a living . The policies are provided by insurance company Markel .
US start-up Verifly is now offering business insurance to freelancers and gig economy workers, with $1m policies available for as little as $5 per hour, per job. The app-based system uses customers' postcode to determine their risk profile and analyses historical loss data to determine a policy price. Verifly said costs vary depending on what the worker does for a living. The policies are provided by insurance company Markel.