Online jobs marketplace Airtasker has joined forces with Roobyx to offer income protection insurance underwritten by Lloyd’s for freelancers using the site.

The insurance is offered on an opt-in basis, with the premium fluctuating according to earnings the previous week. A minimum of $1.65 would be paid to maintain cover in weeks when a worker does not receive income.

“The cost of the Roobyx income protection increases and decreases based on earnings – so people can work as much or as little as they want,” Airtasker CEO Tim Fung said. “This really aligns with our philosophy of creating an entirely flexible structure of work.”

Airtasker says the move is part of a push to add protections for workers in the sharing economy, and follows discussions with Unions NSW.

Roobyx, which specialises in insurance for on-demand workers, is a trading name of Brisbane-based YourCover, which has held an Australian financial services licence since 2014.

Maureen Ball from Roobyx says the Airtasker product provides a new level of flexibility.

Workers who suffer an injury will have continuity of income for up to 104 weeks, based on average income in the prior 10 weeks, under the cover.

Airtasker already provides third-party liability cover through CGU.