Earlier this month the property and casualty insurance industry held its annual “love fest” in New York City, honoring its greatest cheerleader, Willis Group Chair and CEO Joseph J. Plumeri.

I was on the scene, and left wondering whether the industry would ever be able to project the positive image it has of itself to the public at large.

The event was the third annual Insurance Industry Charitable Foundation gala fundraising dinner, and Mr. Plumeri was this year's honoree.

True to form, he struck a folksy, “How ya' doin'?” as he began his address to thank IICF for the honor (which last year went to Pierre Ozendo, chair and CEO of Swiss Re America Corp., and in 2007 to Brian Duperreault, president and CEO of Marsh & McLennan Companies).

Joe honored his family, joking about them, promoting his son's restaurant and reading a letter from his Mom. (“He loves insurance. And he's a nice boy.”) He also gave the industry a strong pat on the back for a job well done.

In close to a decade as head of Willis, Mr. Plumeri has been both an ardent critic and promoter of the insurance industry, and has probably annoyed a few people in an industry of generally low-key personalities.

He stands out, as he did on this occasion, as being both vocal and passionate in his opinions about the direction and purpose of the insurance industry.

Indeed, his best applause line of the night was: “We do not get the fair recognition that we deserve in this business for what we do.”

He pointed to the considerable amount of money the industry makes available to policyholders when disaster strikes, upholding a promise to pay claims in an effort to make their lives whole again.

Insurance is the mother's milk of capitalism, he intoned, and when catastrophes strike, insurers are there to aid in the recovery.

The economy won't function without the backing of insurance, he pointed out, noting that even the chairs which the evening's attendees were sitting on would not be there without coverage.

From the manufacturer to the delivery truck, to the hotel holding the event, the night's gala would not proceed without insurance, he noted.

By the end of his brief but poignant address, Mr. Plumeri had everyone there feeling pretty good about the industry they work for.

Later, the chair of the IICF–Michael P. Fujii, president and CEO of worldwide insurance operations at Endurance Specialty Holdings Ltd.–spoke about the four charitable organizations the organization will give grants to:

o The Boys Hope Girls Hope New York.

o The International Rescue Committee.

o Starlight Children's Foundation NY*NJ*CT.

o The World Cares Center.

The money they raise, he said, benefits children in need, alleviates humanitarian crises and helps communities to prepare for disasters. How many people know the industry does such things?

At the end of the evening, former NBC News anchor Tom Brokaw gave an inspiring and hopeful speech about the challenges the United States has faced in the past, and how he believes younger Americans will rise to the occasion to become the greatest generation of their time. He also joked about worrying whether his insurance was in place during a recent auto accident, expressing relief that both his life and auto coverage were paid up.

By the end of the evening, many of the contributors must have been feeling pretty good about their industry despite soft market competition and a fragile economic recovery.

Yet Mr. Plumeri voiced a common complaint during his speech–that there is nothing in media promoting a positive image of the industry, and that for all insurance does, the business deserves better. From the applause, one would say that many agreed.

The question is: What will this industry do to change its negative perception among the consumer press and the general public?

The industry gave itself a well-deserved pat on the back for its charitable work and noble aims at this dinner. But will it take anything away from these inspiring observations other than it being a victim of misunderstanding and under-appreciation?

It would have been nice to see the speakers challenge the industry to stand up and defend its reputation before the public–to charge confidently forward and assert the righteousness of its purpose.

I fear that instead, the industry will just keep circling the wagons when negative news emerges, as it has in the past.

Perhaps to encourage such behavior–or at least recognize those who do defend the industry–there should be an award dinner to honor the insurance organizations that do the best job presenting a positive image to the public, while also raising funds for some good cause. Think about it.

Associate Editor Mark E. Ruquet can be reached at mruquet@sbmedia.com.

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