Insurtech: Dinghy Now Offering 2 Months Free Insurance for Freelancers Impacted by COVID-19 Pandemic

Dinghy, an Insurtech backed by Allianz, is now offering up to 2 months of free professional indemnity insurance until June 14. The program is designed to assist freelancers who are not working and struggling to make ends meet during the COVID-19 pandemic.

Dinghy is an on-demand freelancer insurance platform that allows freelancers to match their coverage to their work-life. Users have the ability to turn their insurance on, off, up or down as they require, with insurance charged by the second for cover used. There are no contracts required for the coverage. Dinghy currently offers professional indemnity, public liability, business equipment insurance and customised legal expenses to cover the needs of freelance professionals.

Dinghy cites data from The Institute for Fiscal Studies and The Resolution Foundation think-tank that claims up to 2 million freelancers will not be insured and an additional 2 million may not benefit from full income during the Coronavirus crisis. Dinghy notes that while many employees remain supported by their employers or the financial aid from the government, the self-employed and freelancers have been left comparatively exposed.

Dinghy adds that for new and existing customers, the company will also include two months free “Freelancer Assist” insurance, which helps freelancers chase unpaid invoices over £250.

Robert Hartley, Chief Product Officer and co-founder of Dinghy, said that during this unprecedented time they are grateful that their insurance partners have responded quickly to work with them to support their customers who have lost work and income:

“We hope the 2 months’ free Professional Indemnity insurance will help our customers to bridge this difficult time until they can start working again, but we will review the situation after 6 weeks and see if we can do more. A core part of our insurance is also our Freelancer Assist package, which helps customers chase unpaid invoices. At a time when companies might delay paying freelancers’ overdue invoices, we will offer this insurance for free to help our customers get paid at a time they most need it.”

Dinghy is underwritten by Allianz and ARAG. Allianz is one of the largest general insurers in the UK and part of the Allianz Group, one of the world’s foremost financial services providers. ARAG is part of ARAG SE, a global leader in legal expenses insurance which generates annual premium income in excess of €1.5 billion.

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