You don't have any event handlers attached. Usually custom event code has a check for that:
ItemInsertedEventHandler handler = this.ItemInsertedEvent;
if(handler != null) handler(this, args);
You need to have some code somewhere that adds a handler, i.e.
MyObject.ItemInsertedEvent += myHandler;
EDIT: Jon Skeet is right about race condition issues, you should use the local variable like he suggests. I've changed my example to match.