Actually it is more than enough:
If all the parties of the bitcoin network with the current hash power of (almost) 2^62 H/s reach a consensus and decide to just find one single 160 bit collided pair of keys, they have to devote their total power for the next 1000+ years or so  to do the job. (Note: we have to run 2 hash functions in each test).

Which 'current standards' are you mentioning in this context?

I think there is a point that has been missed out: Any security consideration should be taken in response to the extent of the possible threats which are always proportional to the incentives.

In this specific case it is mathematically possible for a hypothetical very powerful attacker to spend trillions of dollars and a significant amount of time to collide with a 160 bit random (absolutely random) address and disrupt a single contract: my lesson? never put trillions dollars worth of assets on a single contract on top of the bitcoin blockchain, or make sure there is not a single sensitive dependency to the 160 bit hashed key addresses in the policy .