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3mo ago

Element Insurance Insolvency: Over 11,000 Claims Filed as Deadline Nears

Policyholders have until May 31, 2025, to submit claims, with legal disputes complicating the process.

Eine große Berliner Versicherung ist insolvent. Für hunderttausende Kunden stellt sich jetzt die Frage, wie es weitergeht.
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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.