Overview
- The Berlin-based Element Insurance AG declared insolvency in December 2024, affecting approximately 320,000 policyholders.
- All insurance contracts automatically ended on April 1, 2025, requiring no individual cancellations by customers.
- Policyholders must file claims through an online portal by May 31, 2025, with over 11,000 claims already submitted as of early May.
- Many customers were unaware their policies were underwritten by Element due to partnerships with brands like BavariaDirekt and Vodafone.
- The insolvency administrator has initiated legal action against a partner company refusing to fulfill its obligations, adding complexity to the proceedings.