*By Madison Alworth*
Verifly, a start-up that provides insurance for flying drones, said it will now also cover people. It will begin offering on-demand, short-term general liability insurance for contract workers and freelancers.
The company's app, originally designed for the gig economy of DJs, photographers, handymen, and dog walkers, gave Verifly a leg up when it looked to expand into other types of insurance, said co-founder and CEO Jay Bregman.
"This platform that we built was really a per-flight, drone insurance, and it was how we cut our teeth in building this episodic insurance," he said Wednesday in an interview with Cheddar. The contractors who were using their drone insurance were the ones who asked for coverage for their other freelance jobs. "They came to us and said, 'it's great that we have this system for the 5 percent of our work that deals with drones, but we'd like to do this for the 95 percent of our work that's photography, or construction, etc.' So we just listened."
There are 57 million Americans who work as independent contractors, often on short term jobs. In the least 20 years, the number of gig economy workers has increased by about [20 percent more](https://www.cnbc.com/2016/10/13/gig-economy-is-growing-heres-how-much.html) than payroll employees.
"Insurance is only sold by the year. So we stepped in to solve that problem," said Bregman.
Verifly users can purchase insurance for a specific gig and by the hour. The rates start as low as $5 an hour, and they're based on a variety of factors including the type of work, the length of the project, and where the job is located. Verifly insurance is available in 11 states, and the company has plans to be available nationwide by the end of this year or early next year. Its general liability policies are underwritten by Markel Insurance Company and the drone policies are underwritten by Global Aerospace, Inc.
For full interview, [click here](https://cheddar.com/videos/getting-insurance-for-your-gig).
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
