OneBeacon Insurance Recommends Steps to Avoid Snow-Related Building Collapses

CANTON, Mass., March 4 /PRNewswire/ -- The winter of 2007/2008 has beenone of the snowiest on record in northern New England, and severalbuildings throughout the region have collapsed under the weight of heavysnow and ice. With more wintry weather forecast for Maine, New Hampshireand Vermont in the next couple of days, OneBeacon Insurance recommends thatproperty owners take the following steps to prevent their commercialbuildings and homes from collapsing:
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 insurancecompany at the first sign that property may have suffered damage from snowand ice or any other winter condition. While all buildings are susceptible to damage in severe winter weather,the following structures face the highest risk of collapse:
-- Unheated, unoccupied buildings -- Any building with a flat roof -- Warehouses and agricultural buildings, which typically have lower capacity for heavy snow loads -- Gas station canopies -- Roof overhangs and covered porches -- Homes and businesses with multilevel roofs -- Barns -- Seasonal homes and camps -- Buildings with large unprotected spans OneBeacon Insurance Group's operating subsidiaries offer a range ofspecialty and segmented commercial and personal insurance products soldprimarily through select independent agents. As one of the oldest propertyand casualty insurers in the United States, OneBeacon traces its roots to1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialtyinsurance products are available countrywide, and commercial and personallines are offered in select geographic territories. OneBeacon's U.S. headquarters is in Canton, Massachusetts. The companyis publicly traded on the New York Stock Exchange under the symbol "OB". Safe Harbor Statement under the Private Securities Litigation ReformAct of 1995 This press release may contain "forward-looking statements" within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934. All statements, other than statements ofhistorical facts, included or referenced in this release which addressactivities, events or developments which we expect or anticipate will ormay 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 identifyforward-looking statements. These forward-looking statements include, amongothers, statements with respect to OneBeacon:
-- growth in 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 byOneBeacon in light of its experience and perception of historical trends,current conditions and expected future developments, as well as otherfactors believed to be appropriate in the circumstances. However, whetheractual results and developments will conform to our expectations andpredictions is subject to a number of risks and uncertainties that couldcause 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 OneBeacon's Form 10K filed February 29, 2008. Consequently, all of the forward-looking statements made in this pressrelease are qualified by these cautionary statements, and there can be noassurance that the actual results or developments anticipated by OneBeaconwill be realized or, even if substantially realized, that they will havethe expected consequences to, or effects on, OneBeacon or its business oroperations. OneBeacon assumes no obligation to update publicly any suchforward-looking statements, whether as a result of new information, futureevents or otherwise.