While contract certainty in any business may never reach the 100 percent level, the London market has plenty of room to raise the bar.
Marcus Rivaldi, London-based director for Standard & Poor's, admits that sometimes the London market operates by its own unique rules and logic, particularly when it comes to the sometimes seemingly casual way risk is assumed.
“You would think it would be one of the most obvious things to do,” he said. “There is no way to explain it and it is not defendable. But that is the way it has always been.”
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