Element Insurance in bankruptcy: Deadline for claims until the end of May!

Element Insurance in bankruptcy: Deadline for claims until the end of May!

Element Insurance AG, a digital insurer, has been in final insolvency proceedings since March 2025. The Charlottenburg district court has officially confirmed the insolvency, and around 320,000 contracts are affected. Customers affected by this development must submit their claims by May 31, 2025 to secure possible payouts. Ruhr24 reports that insured parties must register their claims with the insolvency administrator, including outstanding claims and premium refunds.

It is important that the insurance coverage expired on April 1, 2025. Many of the affected insurance contracts ended automatically one month after the opening of insolvency proceedings. Customers are encouraged to immediately organize alternative insurance coverage to avoid gaps in coverage.

Background to bankruptcy

The insolvency of Element Insurance was caused by the company's excessive indebtedness, which was reported to BaFin on December 20, 2024. This financial imbalance led to BaFin banning new business after the reinsurance protection was terminated.

Element Insurance operated as a white label insurer and cooperated with partner companies such as Auto Protect, asspario and Direkt-AS, which meant that many customers may have unknowingly been insured with Element through these partners. BaFin therefore recommends checking your own insurance documents to identify the actual risk bearer.

Deadlines and procedures for customers

Customers affected by Element Insurance need to hurry: their claims must be submitted by May 31, 2025. These deadlines are crucial, as is the careful examination of the contract documents. Damages that occur before the end of the contract may be legally covered, but there is no guarantee of full settlement. Claims arising from damage are settled from the company's security assets and have priority over other creditor claims.

Information on how to register claims will be sent to those affected by post. The insolvency administrator asks the insured to submit their claims bafin.de to register. BaFin does not offer individual advice, but recommends that insured persons seek legal advice or support from consumer protection organizations in order to be well advised in this situation. Customers should therefore read the information provided by the insolvency administrator carefully and adhere to all deadlines.