Tesla Has Registered the German Branch of its Insurance Product as Giga Berlin Nears Completion

Photo courtesy of Tesla, Inc.

Tesla is preparing to fully enter the German market and plans to offer a full range of services there, including insurance. The company has registered the German branch of Insurance as Giga Berlin will start production in a few months.

At the moment, Tesla Insurance is officially available only in California. However, there have been recent reports that the company will soon begin operations in other US states. Tesla's Israeli clients also reported that the company offered them its own insurance. And in 2020, Tesla established an insurance brokerage limited company in China. Now, according to a report by Drive Tesla Canada, Tesla has opened a branch of its insurance company in Germany.

A company called Tesla Insurance Limited, based in Malta has opened a new branch in Germany and has the same address as Giga Berlin. This data became known from information published in the April 2021 journal from Germany's Federal Financial Supervisory Authority (BaFin). According to the journal, Tesla Insurance Limited can operate in a variety of areas including vehicle insurance, goods in transit insurance, disaster and fire insurance, and even legal protection.

The company is entitled to commence business operations in the following insurance lines and risk types:

1. Accidents

2. Land vehicle comprehensive insurance (excluding rail vehicles)

3. Goods in transit

4. Fire and natural hazards

5. Hail, frost, and other property damage

6. Liability for self-propelled land vehicles:

- motor vehicle liability
- land transport liability
- other

7. General liability

8. Various financial losses

9. Legal Protection

10. Assistance for people in difficulty

Tesla began recruiting in Germany for insurance-related positions in mid-August 2020. The company was looking for a Program Manager, Insurance Product & Underwriting, and Program Manager, Insurance Pricing Actuary & Data. Both positions were assigned to Berlin. The registration of Tesla Insurance Limited in Giga Berlin indicates the company's progress in this direction and, by the time of the release of the Model Y made in Germany, Tesla will certainly be able to offer its branded insurance there.

H/T @gigafactory_4/Twitter

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Article edited by @SmokeyShorts, you can follow him on Twitter

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