ATM, all you have is the "surface shields" table flag, which tells the ship that it is to assume that there is a shield that is skin-tight to the ship in question. In fact, this was created initially because there were instances of shots going right through a shield mesh and damaging the hull anyway, so this feature would ensure that the fighter is protected as long as there is shield strength, or as long as a piercing weapon isn't used on it.
Now, for auto-generation, I believe that it will play the shield impact sound, but the code to generate a shield impact visual effect is not present. Bobbeau once indicated that it could be done with decals, but it hasn't been implemented yet. I had hoped that it would be rendered a bit off from the hull, to give the impression that there's a slight gap between the shield and ship hull, but the explanation given indicated that this wouldn't be possible.