Should all security incidents be reported to law enforcement?

Should all security incidents be reported to law enforcement? With Anthem and others disclosing their breaches recently, do you think that they did so in a timely fashion? What are the pros and cons of law enforcement involvement? What does the current law say about companies having to release information / statements on a security breach? How does policy impact the discussion to disclose a breach? Should there be stiff compensation back to customers for the risk they are now enduring?