For 2010, HAL’s basic fee is charged as follows:

(1) Members underwriting 50% or more of their premium income limit (PIL) on a bespoke basis: Basic fee of £4,000

OR

(2) Members underwriting 50% or more of their PIL on a MAPA basis: Basic fee of £3,000.

Plus £250 per bespoke syndicate up to a maximum of three, after which, the bespoke basis basic fee will apply. The HAL board reserves the right to waive the bespoke syndicate charge at its discretion.

In addition to the basic fee, a variable of PIL will be charged in bands as follows:

£0m – £4m at 0.25%

plus £4m – £6m at 0.20%

plus £6m – £8m at 0.15%

plus £8m and above at 0.10%

Profit Commission

Profit commission is charged to all HAL Members at a sliding scale (e.g. 2% of a 2% profit: 5% of a 5% profit), up to a maximum of 10% of profit, subject to a cap of £50,000 being charged for the combined annual fee and profit commission.