cohabit insuranceSmarter insurance for your strata building.
The Sinking Strata
Turning an uninsurable precinct into a compliant, insurable asset
The Brief
Secure compliant insurance for a large mixed-use strata precinct facing foundation settlement issues, limited market appetite, and an insurance structure that no longer reflected the building's risk profile.
The Challenge
- A 323-lot residential and commercial precinct
- Active foundation settlement remediation across the site
- An insurance programme missing mandatory covers
- More than a dozen insurers unwilling or unable to participate
- Renewal options rapidly narrowing
The Stakes
This was more than a difficult renewal.
Without intervention, the owners corporations faced ongoing uninsured liability exposure and an increasingly uncertain path to securing long-term insurance.
The Cohabit Approach
Rather than presenting the settlement issues as an unresolved defect, Cohabit rebuilt the entire risk narrative.
- Documented the full engineer-led remediation programme
- Presented independent evidence of active risk management and monitoring
- Consolidated compliance and supporting risk documentation
- Reframed the risk submission to restore underwriter confidence
- Restructured the programme into separate, compliant policies for each Owners Corporation
Brokers work to ensure that the building is properly protected by identifying potential risks, recommending appropriate cover, and helping committees understand the insurance options available to them.
The Outcome
- Insurance secured where market options had nearly disappeared
- 73%Reduction in premium
- $129M+Building assets under compliant cover
- 4Owners Corporations transitioned to individually accountable insurance structures
Why It Matters
Complex risks are rarely solved by approaching more insurers. They are solved by creating a clearer understanding of the risk.
At Cohabit, better building intelligence leads to better insurance outcomes.
