Disclosing Terrorism Risks Could Force Congress To Act
With the credibility of corporate financial statements in severedoubt following the Enron scandal, a report that the U.S.Securities and Exchange Commission might require firms withoutterrorism insurance to disclose that fact to investors makessense.
The SEC's consideration of this new mandatory disclosurecouldn't have come at a better time, as public skepticism about thetrue financial status of publicly traded companies is at its peak.With auditors allegedly corrupted by consulting contracts, and theintegrity of stock analysts potentially compromised by investmentbanking fees, anything the SEC can do to assure full disclosure ofa company's liabilities–including terrorism exposures–would bewelcome.
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