Sorry, but I totally disagree.
For a start, mere ownership of something is never enough to establish liability. Negligence is usually needed too.
For burst pipes where negligence can’t be established:
The OC would pay for repairs to common property. Affected lot owners/occupiers would pay for repairs to their lot/personal property. All can claim on any insurance policy that they have access to.
For burst pipes where OC/lot owner/lot occupier negligence can be established:
The negligent OC/lot owner/lot occupier would be liable for repairs to both common and lot property. But can claim on any insurance policy that they have access to. That includes, for the OC and lot owners, the OC’s building insurance policy.
Usually, unless there was required maintenance (or similar) that was not done, it’s difficult to establish negligence and therefore liability in these situations.