Willis Testimony continued

Brooks: How does Willis explain not accepting contingents to shareholders? Bailey: Didn't really give a coherent answer.

Berlin: Do you have data to show that this has helped business? Bailey: No data, but has anecdotes.

Matthew Gold: What is Willis' position on contingents for independent agents? Bailey: Buyers see no difference. He says his comments are focused on brokers (as legally defined). Not commenting on agents, but believes agents should commit to full transparency.

Nachman: If state relaxed its rules on contingents for Willis, would Willis start to accept them again? Bailey: We have no plans to accept contingents.