Disclosed is a semiconductor module comprising a semiconductor element (1) and two terminal electrodes (3a, 3b, 3c) between which the semiconductor element (1) is disposed and with which the semiconductor element (1) is contacted in an electrically conducting manner. The semiconductor element (1) is surrounded by an at least partly electrically insulating housing (5, 7, 11, 12). In order to protect the housing from the effect of electric arcs occurring in the event of an overload, a high temperature-resistant insulator which is arranged at least at some points between a housing wall and the semiconductor element is provided inside the module. The insulator can surround the semiconductor element as a hollow cylinder.