On 01 March 2025 final insolvency proceedings were initiated against the non-life and accident insurer ELEMENT Insurance AG (ELEMENT) with registered office in Berlin. ELEMENT was also active in Austria as an authorised EEA insurance undertaking under the freedom to provide services. More detailed information has been made available in German only by the competent supervisory authority, the Federal Financial Supervisory Authority (BaFin; Bundesanstalt für Finanzdienstleistungsaufsicht): BaFin – News & Maßnahmen – ELEMENT Insurance AG: Eröffnung des endgültigen Insolvenzverfahrens BaFin’s publication advises among other items that the overwhelming majority of insurance contracts will end one month after the initiation of the insolvency proceedings, on 01 April 2025 at 24:00 (i.e. midnight at the end of the day). In addition, BaFin has also made information available about what steps insured persons should take now.