More relevant than section 102 is
166 Strata managing agent to obtain insurance quotations
A strata managing agent must provide the owners corporation with not less than 3 quotations from different providers for each type of insurance proposed by the agent to the owners corporation or provide written reasons to the owners corporation if less than 3 quotations are provided.
Now, it could be that the SM has provided the quotes to the committee (who represent the OC) and they have decided on the best option, but they should at least be able to explain why they reached that decision.
So, rather than ambush them, tell them that you will be asking at the AGM what the other quotes were, who they were from and why they chose the one they did.
It’s a reasonable question and you and other owners are entitled to know the answers – in summary, at least. On the other hand, the AGM is not the right place to discuss the relative merits of different insurance policies in detail … unless you want it to drag on for hours as everyone gets an education on strata insurance and what it means.