The highest road: a process to restore confidence in the industry. (insurance industry)(Boardroom Report) (Column)

THE INSURANCE INDUSTRY is in the midst of a crisis of confidence.

Consumer confidence has been shaken by the exaggerated attention given to the financial difficulties of a few companies. This concern about company solvency compounds the industry's image problem. In a 1990 NALU/LIMRA survey, only 52 percent of the producers surveyed felt that consumers had a favorable opinion of the industry, down from 78 percent in 1970.

But is the industry also suffering from a crisis of self-confidence? That same survey revealed that only 68 percent of the respondents agreed that "my career has prestige in the eyes of my friends," compared with 81 percent in 1970. A …