Cayman First has just completed its first year under the ownership of the Bahamas First Group of Companies. “Our affiliation with this group has enabled us to expand the scope of our operations beyond that which existed under our previous owners” said Michael Gayle, General Manager at Cayman First. “We now have access to expertise which enables us to strengthen our operations here in Cayman. This has manifested itself in a number of ways,” he said.
In response to increased security concerns, Cayman First recently partnered with the Security Centre Limited to offer free home security systems to all of its residential customers. This effectively mirrored a similar scheme which Bahamas First launched last year and is but the first example of technical collaboration between the group’s offices. “We have in the pipeline, a number of other product innovations and enhancements which will be released in the coming months,” Gayle said.
“As we are in the middle of an active Hurricane season, we would like to take this opportunity to remind the public of the importance of securing proper insurance protection.” It is of paramount importance that property be insured for full replacement value, in order to ensure that claims are not reduced as a result of the underinsurance condition, commonly known as the Average clause.
Insurance companies do not typically have the expertise to recommend values for insurance purposes and as such, Cayman First recommends that homeowners seek professional advice on this. Many homeowners have mortgages and would have had to obtain valuations. If the mortgage is more than, say, two years old, the valuation would need to be updated. The original valuators should be able to provide an update at a cost less than that of the initial valuation, Gayle advised.
“Regarding insurance coverage, we are ready, willing and able to provide advice on any insurance requirements,” he said. “Call us or ask your broker about us.”
Cayman First’s Savannah Branch will recognize and celebrate its customers as it marks its first anniversary in November. During customer appreciation month there will be special rates, giveaways and a chance to win prizes so make sure you visit the Savannah location at Countryside Shopping Village.