It is not normal to have continued special levies. Nearly all the time one would expect to have only the expected expenses and they should be covered in a budget approved each year at the AGM.
I would have expected that insurance was an item in the admin fund budget approved at the previous AGM. The only reasons for a special levy that I can think of would be:
-if the amount budgetted was not nearly enough if premiums rose unexpectedly or a property valuation meant that you discovered you had been under-insured.
-something else went over-budget and now there is an insurance bill to pay without enough in the bank
-everything is on budget except that some have not paid levies and consequently there is insufficient in the bank.
You should have a copy of the budget from the papers of the last AGM. If not request a copy from the strata manager or treasurer. If insurance is not budgetted as a normal recurrent admin fund expense ask why not. If insurance is budgetted ask why the budgetted amount has not been enough. There might be a reasonable explanation. If you have a problem with lots of owners in arrears ask how that is being managed. It is possible to have an orderly process for debt collection.
Ask before the meeting. I would not immediately suspect or suggest any fraud. Stuff up is more likely and that is less likely than a minor issue not well explained. Talk to the EC. They are owners just like you, perhaps struggling with a job they didn’t really want or without sufficient support from a strata manager.