I took the back plate off and notice some burnt insulation around what I think are the connectors to the top element? Another component also shows some burn...tried to post pics but form rejected me from doing so.

Any suggestions on this limited info?

Thanks

I cannot comment on the top photo as I cannot see much.

The lower two look normal to me.
Often this is not the insulation burning.
It is fumes that have escaped from the oven when cooking.
They condense on the cooler insulation and then change color over time.

Looks like a bad connection on the right side of the terminal strip.

Could have been just a bad/loose connection here from day 1.
Here is how it can happen.
Electricity see a bad connection as a resistance.
So as current passes through it it heats up/arcs etc.
This further degrades the connection causing more heat and so on and so on till the connection fails.

Get a new terminal strip and replace it.
Carefully check the connectors on the wires to be sure it is not them that is heating up.
Clean the connectors with fine emery cloth etc. till they are nice clean copper.

You are welcome.

And thanks for getting back to us. Now when others search for a similar problem they will see what actually worked instead of just suggestions about what could be the cause.

It would not be a bad idea to pull the stove out after you have used the oven half a dozen times or so and take a look at the terminal strip for any signs of overheating, just to be on the safe side.