EASOP

AcronymDefinition
EASOPEmergency Action Standard Operating Procedure
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References in periodicals archive ?
Easop identified several fundamental issues with the coming updates:
What doesn't change is that Best's Credit Ratings are based on quantitative and qualitative evaluation of balance sheet strength, operating performance, business profile and risk management, Easop said.
The application of these will be reflected in Best's Credit Rating Methodology, Easop said.
"Overall scores are going to be inherently lower and it's not just because we're updating the factors themselves," Easop said.
Best soon will no longer publish a guideline table that shows a correlation between BCAR scores and an implied rating level, Easop said.
Easop also encounters this energy and excitement when he goes out on the speaking circuit.
"It is incredibly gratifying to speak about capital models and ERM at conferences," says Easop.
Best, Easop spent more than 10 years in various roles at Prudential, and he also did an early stint with the Peat Marwick accounting and consulting firm, which "gave me a pretty good appreciation of the roles of things like internal controls and strategic management."
Easop says that this previous experience has helped him appreciate that ERM is not just about financial reporting and internal control.
It will be shown that for sufficiently large n, E[U([S.sub.T])] > 0 and hence the EASOP holds.
Overall, the industry probably welcomes the development of a more economic risk-based capital approach using stochastic modeling instead of the current factor-based approach, Easop said.