THE INDEPENDENT WORKER AND WORKERS’ COMPENSATION INSURANCE

Last April, with the aim of increasing the number of insured individuals against potential occupational risks, the National Insurance Institute (INS) has made it easier for independent professionals to be included in this area. Now, interested parties must prove their net income to calculate the insured amount and thus access the benefits of the policy.

This product is now known as General Workers’ Compensation Insurance, and in addition to changing its name, two aspects of the regulations that were in effect since 2021 have been modified:

• Workers no longer need to be previously registered as taxpayers with the General Taxation Directorate,
• And they will not be charged an additional 40% surcharge on the rate for accident rates.

The premiums to be paid will depend on the monthly income of each worker, the preferred payment method, and the level of risk associated with their job.

Workers’ compensation insurance provides independent workers with access to medical and hospital coverage in case of any eventuality related to their economic activity, similarly to salaried employees. This means that independent workers will be able to benefit from services such as medical disability, payment of subsidies, medical-surgical assistance, hospitalization, pharmaceuticals, rehabilitation, among others.