OneBeacon Insurance Recommends Steps To Avoid Snow-Related Building Collapses

CANTON, Mass., Dec. 16 /PRNewswire-FirstCall/ – Each winter, businesses and homes suffer major damage, or collapse altogether, from the weight of snow and ice. OneBeacon Insurance urges property owners to protect their commercial buildings and houses by taking the following steps:

Before A Storm

1. Review the roof’s design to be certain it can support the weight of snow, ice and water. Look for weaknesses and reinforce it if necessary, particularly where increased weight from drifting is likely.
2. Make certain gutters, drains, downspouts and scuppers are clear and in good condition.
3. Determine a safe snow depth for the roof and plan to begin removal when accumulated snow reaches half that depth.
4. Develop a snow removal plan that includes roofs, skylights, canopies and overhangs. Assign individuals to be responsible for monitoring, snow removal, etc.
5. Be ready to put the snow removal plan into effect immediately, especially in windy weather when snow will drift and accumulate.

During A Storm

1. Monitor the weather and condition of the roof.
2. If possible, check on the roof for snow depth, drifting, puddles, ponding, and/or ice accumulation.
3. Inspect roofs for leaks or structural deficiencies that may develop during the storm.
4. Clear leaves, snow, ice, silt, or other debris from gutters, drains, downspouts, and scuppers.

After A Storm

1. Have a professional contractor remove all snow immediately from every roof surface, including roof overhangs and covered porches.
2. Remove snow from side walls to prevent high snow mounds from pushing them in.
3. Temporarily shore up and brace dipping or sagging roofs or walls.
4. Verify that drains are clear of ice and snow to allow melting and runoff. If the roof is pitched and without drains, open paths to the eaves to ensure drainage and prevent ponding.
5. Avoid ice dams by keeping the attic well ventilated so snow doesn’t melt and refreeze at the roof’s edge. Also make certain the attic floor is well insulated to minimize the amount of heat rising from the house into the attic.

Property owners also should notify their insurance agent or insurance company at the first sign that property may have suffered damage from snow and ice or any other winter condition.

OneBeacon Insurance Group offers a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon’s specialty insurance products are available countrywide, and commercial and personal lines are offered in select geographic territories.

OneBeacon’s U.S. headquarters is in Canton, Massachusetts. The company is publicly traded on the New York Stock Exchange under the symbol “OB”.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words “will,” “believe,” “intend,” “expect,” “anticipate,” “project,” “estimate,” “predict” and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon’s:

• growth in adjusted book value per share or return on equity;
• business strategy;
• financial and operating targets or plans;
• incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
• projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
• expansion and growth of our business and operations; and
• future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

• claims arising from catastrophic events, such as hurricanes, earthquakes, floods or terrorist attacks;
• recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
• the continued availability and cost of reinsurance coverage;
• the continued availability of capital and financing;
• general economic, market or business conditions;
• business opportunities (or lack thereof) that may be presented to it and pursued;
• competitive forces, including the conduct of other property and casualty insurers and reinsurers;
• changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors or its clients;
• an economic downturn or other economic conditions adversely affecting its financial position;
• other factors, most of which are beyond OneBeacon’s control; and
• the risks that are described from time to time in OneBeacon’s filings with the Securities and Exchange Commission, including but not limited to OneBeacon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007 filed February 29, 2008.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE OneBeacon Insurance Group