Backdating's Long Shadow

The stock-options-backdating scandal is starting to have some wider reverberations.

In the wake of the initial reports that some companies had suspiciously handed out favorably priced options to executives, the affected stocks tumbled, and analysts started investigating which companies -- and stocks -- would be the next likely suspects.

Amid the scrutiny and uncertainty, the broader market plunged, and some analysts have blamed this in part on the scandal.

Now comes the hint of a possible aftereffect: greater scrutiny from the insurance industry. ...