It's a thermal cut-out switch (or self re-setting thermal fuse, if you like). The urn bottom gets too hot (due to no water in it, or whatever), and the thermal switch opens. It will, normally, close after it has had time to cool.
I see that it was in series with the element, the only text on the device is "60" (which if it is a temp I assume its in degC). This confuses me a little because the urn needs to boil water at higher than 100degC, will this 60degC thermal cutoff switch not restrict the urn from heating the water to that level?
I cant seem to find a replacement "easily". Would it be possible to use something like this Cutout as a replacement? Otherwise I`ll look into purchasing it online and shipping from where ever it is available.