Healthcare Provider Update: Provides health insurance through Blue Cross Blue Shield, with additional dental and vision coverage 2. With ACA insurers requesting double-digit hikes, MRCs employer-sponsored plans may offer more predictable and affordable coverage compared to marketplace options. Click here to learn more
Are MRC 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
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
Some neighbors may seek to bring legal action against you, though often that is unnecessary.
For those working at MRC 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 MRC Global offer to its employees?
MRC Global offers a 401(k) retirement savings plan to its employees.
How can employees participate in MRC Global's 401(k) plan?
Employees can participate in MRC Global's 401(k) plan by enrolling during the open enrollment period or when they first become eligible.
Does MRC Global match employee contributions to the 401(k) plan?
Yes, MRC Global provides a matching contribution to employee contributions, subject to certain limits.
What is the maximum contribution limit for MRC Global's 401(k) plan?
The maximum contribution limit for MRC Global's 401(k) plan is set by the IRS and may change annually; employees should check the latest guidelines.
Are there any eligibility requirements to join MRC Global's 401(k) plan?
Yes, MRC Global has specific eligibility requirements, which typically include age and length of service with the company.
Can employees take loans against their 401(k) balance at MRC Global?
Yes, MRC Global allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.
How can employees access their 401(k) account information at MRC Global?
Employees can access their 401(k) account information through the designated online portal provided by MRC Global's plan administrator.
What investment options are available in MRC Global's 401(k) plan?
MRC Global's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.
Does MRC Global allow for Roth 401(k) contributions?
Yes, MRC Global offers the option for employees to make Roth 401(k) contributions, allowing after-tax savings.
What happens to my 401(k) funds if I leave MRC Global?
If you leave MRC Global, you can choose to roll over your 401(k) funds to another retirement account, cash out, or leave the funds in the plan, subject to certain conditions.