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
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.
