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Global Employees: Navigating the Financial Implications of Fallen Tree Damage on Your Property

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Are Global employees responsible for the damage caused by a tree on their property that hits their neighbor’s home or other insured structure, such as a garage or shed?

In most cases, the answer is “no.”

When such damage occurs to your neighbor’s home due to forces outside your control (e.g., weather events), your neighbors may have to file a claim with their insurer to receive a reimbursement for the damage a fallen down tree caused.

There is one exception, however.

If it is determined that the tree damage stems from your negligence (e.g., dead limbs that you refused to cut down, or you chose to trim your tree as a weekend project), then the neighbor’s insurer may come after you to recover their loss—a process called subrogation.¹

You may want to check your policy or speak to your insurance agent to ascertain if your homeowner's policy covers your liability in cases of negligence.

When Neighbors Sue

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Some neighbors may seek to bring legal action against you, though often that is unnecessary.

For those working at Global, determine what municipal laws are in place to cover such instances. Generally speaking, you are not responsible unless you knew, or should have known, about the danger. Proving what you knew or should have known can be difficult and costly in a court of law. It typically benefits both parties to arrive at a compromise that avoids an expensive legal process.

The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.

What type of retirement plan does Global offer to its employees?

Global offers a 401(k) retirement savings plan to help employees save for their future.

How can employees at Global enroll in the 401(k) plan?

Employees at Global can enroll in the 401(k) plan by completing the enrollment form available on the employee portal.

Does Global provide matching contributions to the 401(k) plan?

Yes, Global offers a matching contribution up to a certain percentage of the employee's salary.

What is the vesting schedule for Global's 401(k) matching contributions?

The vesting schedule for Global's matching contributions is typically a graded schedule over three years.

Can employees at Global change their contribution percentage to the 401(k) plan?

Yes, employees at Global can change their contribution percentage at any time through the employee portal.

What investment options are available in Global's 401(k) plan?

Global's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and stable value funds.

Are there any fees associated with Global's 401(k) plan?

Yes, there may be administrative fees associated with Global's 401(k) plan, which are disclosed in the plan documents.

How often can employees at Global make changes to their investment allocations?

Employees at Global can make changes to their investment allocations on a quarterly basis or as specified in the plan guidelines.

What happens to an employee's 401(k) plan when they leave Global?

When an employee leaves Global, they have several options for their 401(k), including rolling it over to an IRA or a new employer's plan.

Does Global allow for loans against the 401(k) savings plan?

Yes, Global allows employees to take loans against their 401(k) savings plan under certain conditions.

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