Element Insurance AG insolvent: How to secure your claims in good time!

Element Insurance AG insolvent: How to secure your claims in good time!

Element Insurance AG has been in final insolvency proceedings since March 2025 after the Charlottenburg District Court officially confirmed this measure on March 1, 2025. Loud Ruhr24 Around 320,000 contracts are affected, including accident, liability, household contents and residential building insurance. The insolvency was caused by the company's excessive indebtedness, which was reported to the Federal Financial Supervisory Authority (BaFin) on December 20, 2024.

Insured persons should urgently take action and assert their claims by May 31, 2025. Insurance coverage ceased on April 1, 2025, as most contracts ended automatically the day before the insolvency proceedings ended. Customers must register their claims with the insolvency administrator, whereby outstanding claims and premium refunds should also be taken into account.

Deadlines and claims

BaFin has already informed all affected customers by letter and recommends checking their own insurance documents in order to identify the actual risk bearer. The likelihood that customers are unaware that they are insured with Element is high, as Element operated as a fully digital white label insurer. Customers who are insured through cooperation partners such as Friday, hepster or Panda are also affected by the insolvency.

BaFin has also imposed a ban on new business after reinsurance coverage was terminated. It is therefore important that affected insured parties immediately organize alternative insurance coverage so as not to risk any gaps in coverage. Damages that occur before the end of the contract remain legally covered, but there is no guarantee that these damages will be completely settled.

Claims settlement information

Some details regarding the settlement of the damage are uncertain. The payment conditions depend on the total amount of claims in the insolvency proceedings. Claims from damage cases have priority over other creditor claims and must be registered by May 27, 2025, even if they are not secured by the security assets. Information on how to register claims has also been sent to the affected insured persons by post.

Insured parties are well advised to read the information from the insolvency administrator carefully and adhere to the deadlines. BaFin does not offer individual advice and suggests seeking legal advice or support from consumer protection organizations to clarify the next steps.

For detailed information about the status of the insolvency and the exact procedure for filing a claim, those affected can visit the official website BaFin visit.