[AZ] [Condo] Asking for any recommendations on how to cover the sharp rise in master policy insurance costs

I've been the board president for over 15 years in Arizona of a 96 unit condo complex. I'd like to think I've handled everything that has come my way quite well but the exorbitant costs of insurance we are all facing has got me very worried. It wasn't long ago our master policy rates were $12-16k per year. Last year they jumped to $50k and now $150k. We are still trying to get more quotes for this year but most are outright denials. Our reserves were once pretty healthy, but they are dropping very fast as $15k/month is going to this policy that started in February. Since we can only raise HOA rates a small amount each year there is no way to keep up and pay our other bills. It basically boils down to $130/month per resident. Can I issue an indefinite monthly assessment to try and maintain our budget? What happens next year when it likely even goes higher? Sad part is I'd be scared to ever file a claim unless it's a catastrophe at this rate.

Does anyone have advice on how other boards are covering these high insurance costs?