The Danish Financial Supervisory Authority has published an update and Q&A on the German insurer ELEMENT Insurance AG after the Charlottenburg district court placed the firm into final insolvency proceedings on 1 March 2025. The notice is aimed at Danish policyholders, as ELEMENT had been authorised to sell insurance in Denmark on a cross-border basis, and sets out how claims and coverage are expected to be handled. ELEMENT had been under preliminary insolvency proceedings since 8 January 2025 and, according to Germany’s Federal Financial Supervisory Authority (BaFin), insurance cover for all insureds expires at 24:00 on 1 April 2025, whether policies were written directly or via a partner. Certain claims under policies written with ELEMENT may be covered by Denmark’s Guarantee Fund for non-life insurers if notified by 1 September 2025, with unpaid claims already reported to ELEMENT before 1 March 2025 treated as notified to the Guarantee Fund. The Q&A also summarises categories of claims the Guarantee Fund covers and notes that policyholders can confirm whether ELEMENT is their insurer by checking the insurer name on the policy. For claims not previously reported to ELEMENT, the Authority directs policyholders to report them to the Guarantee Fund as soon as possible and no later than 1 September 2025.

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