The facility will display high-quality photographic reproductions of 106 Hall of Fame portraits, which are currently located at the Insurance Hall of Fame in Tuscaloosa, Ala., as well as the biographical information for each inductee and general historical information about the insurance industry, according to Linda Boch, executive director at International Insurance Society in New York.

The new gallery, which has been in the works for one year and would take up over 3,000 square foot of space, would give an unprecedented visibility to the Hall of Fame, she said.

"There are members in the Hall of Fame from 17 countries, including the United States, France, Germany, Japan, the U.K. and Korea," Ms. Boch said. "There will be plasma screens, and on computer screens, visitors can see digital pictures, biographies and other pertinent historical information. For example, we have a video of Hank Greenberg of AIG, who is one of the inductees, that we are going to include."

Other inductees include Bloomington, Ill.-based State Farm Insurance Companies founder George Meherle, and San Antonio, Texas-based USAA's former chairman Robert McDermott.

Also included are Claude Bebear, former chairman of France's AXA, and Josei Itoh from Nippon Life in Japan.

The Hall of Fame is about 38 years old, and each year, two people are added. This year, the induction will take place in New York in July when the gallery opens, Ms. Boch said.