Insurance customers in crisis: Register claims with Element now!

Insurance customers in crisis: Register claims with Element now!

Element Insurance AG is facing a massive challenge: on March 1, 2025, insolvency proceedings were opened for the company. Affected customers must register their claims in the insolvency portal by May 27, 2025 in order to receive possible payouts. This situation affects hundreds of thousands of policyholders who are now in a tense situation.

The insolvency was caused by the company's excessive indebtedness, which was reported to BaFin on December 20, 2024. As a result, BaFin issued a ban on new business after reinsurance coverage was terminated. Element had had BaFin approval as a property and casualty insurer since October 2017, but the decline in the number of contracts clearly shows the effects of the insolvency. After the preliminary insolvency proceedings were ordered, many insured persons canceled their contracts, so that at the beginning of 2025 there were only around 320,000 contracts left.

Important deadlines and claims

Regular insurance contracts with Element officially ended on April 1, 2025 at midnight. Customers should urgently check their insurance documents as Element is listed as a “risk bearer” in many policies, often associated with partners such as HDI, BavariaDirekt and Bayerische Versicherungen. In order to assert their claims, the insured person must register as required by insolvency administrators www.element-insolvenz.de make. Those affected will also receive information on how to register by post.

It remains unclear when and to what extent the claims can be settled, as this depends on the total amount of the claims. In addition, claims from damage cases have priority over other creditor claims. Customers who have paid premiums should not have them reversed as they are entitled to credits for months without insurance coverage.

Additional challenges

The bankruptcy leaves many customers uncertain, especially with regard to the amount of possible payouts. Element was responsible for a wide range of insurance, including bicycle, accident, home contents, vehicle repair, pet and smartphone insurance. Anyone looking for new insurance must expect higher prices and worse conditions. However, there are some other insurers who may accept contracts, although price increases may be rejected.

BaFin does not offer individual advice, so you are advised to seek legal advice or support from consumer protection organizations. In an emergency, it is advisable to seek legal advice in order to find the best possible solution to this difficult situation.

For more information about Element Insurance bankruptcy, visit Focus and the BaFin.