First I thought the actual rule for Initiative was missing (from page 9), then I found it (page 13).
Now, do I read the rule correctly if you roll for Initiative every round of combat?
(The alternative being cyclic initiative, where you only roll once at the start of combat, and then use the same score throughout all rounds of combat, greatly speeding up play)
I do understand initiative is crucial in any deadly game, especially one where you lose your action to defend fully. Winning cyclic initiative would perhaps be too good (assuming that the slower character must devote his action to defense, he can at least hope to win initiative the next round).