I'm not sure the insurance idea is a go-er, although the general attention to cycling is good.
The indication from the industry of just how insignificant cycling is in insurance terms should be publicised. It's a good response to some of the stuff that's talked about risks from/to cyclists. So, indeed, is the fact that various organisations can give cycle insurance free with membership. Try asking the AA or RAC to do that for us as drivers!
I think we still know that the thing that makes cycling safer is more cyclists. That's my experience - on balance I feel safer now, because more drivers are getting practice at dealing with cyclists (especially in London, for example). So the risk of the attention is that it makes cycling sound much more risky than it is, again.
Other possible innovations include putting more training about cycling into the learner driver process. To me, it beggars belief that the government should support cycle training that promotes the primary position, and not realise the importance of explaining this to learner drivers. A bit of publicity about issues such as riding two abreast, not being in the gutter, and so on, would help too. Maybe TV adverts, or maybe the odd popular TV quiz could be persuaded to have a round on the actual rules about cycling?
It might be good if we could have a more specific thread title, so that more people join the discussion?