The insurance provider Element is facing financial difficulties, leading the Federal Financial Supervisory Authority (BaFin) to file for insolvency proceedings. This development may have serious implications for the insurance coverage of Element’s customers.

One major concern is that many policyholders might not even be aware they are insured by Element, as the provider often operates through partners rather than directly under its own name.


Are You Insured by Element?

If you have an insurance policy through Element or its partner companies, it’s crucial to review your insurance documents immediately. The insolvency proceedings initiated by BaFin mean there’s uncertainty about how claims, particularly for new incidents, will be handled.

The Association of Insureds (BdV) warns that during the insolvency process, payouts for claims may be delayed or reduced. In the worst-case scenario, customers might receive only partial compensation if Element’s secured funds fall short of covering all claims.


What to Do If You’re Insured by Element

To ensure your full protection:

  1. Check Your Insurance Documents: Look for Element as the risk carrier in your insurance terms. If you’re unsure, consult the fine print or contact your insurance partner directly.
  2. Switch Providers Quickly: Secure insurance coverage with a new provider. Ideally, request a provisional coverage letter to avoid gaps in protection.
  3. Prioritize Critical Policies: Focus on replacing essential policies like liability insurance, home insurance, or auto insurance to ensure uninterrupted coverage.

Partner Companies Associated with Element

Element may not appear as the direct insurer on your documents. Instead, they act as a risk carrier for several partner companies, including:

  • Auto Protect
  • asspario
  • Die Bayerische
  • direkt-AS
  • Friday
  • hepster
  • Manufaktur Augsburg
  • Panda
  • Schutzgarant

Review your policies carefully to check for any mention of Element in the terms and conditions.


How to Verify If Element Is Your Insurer

If you’re unsure whether Element is the risk carrier for your policy, you can:

  • Look for Element’s name in the insurance terms and conditions.
  • Contact your insurance provider directly, as they are obligated to inform you about Element’s insolvency.

Secure Reliable Insurance with Culpeck

At Culpeck, we understand the stress of unexpected changes in your insurance coverage. If you’re affected by Element’s insolvency, we can help you secure new and reliable policies quickly.

  • Fast Coverage: Get immediate protection with provisional coverage while your new policy is being processed.
  • Tailored Solutions: We work with a range of trusted insurers to find the best coverage for your needs.
  • Expert Guidance: Our team can review your current policies to identify potential gaps in coverage.

Take Action Now

Don’t risk being left unprotected. Use our online quote form to find a new insurance solution that meets your needs. Whether it’s liability, home, auto, or other types of insurance, we’ll help you switch to a secure provider with confidence.

👉 Get a Quote Now – Protect your future today!