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Volvo's normal powertrain warranty is/was 4 yrs, 50K miles (or should I say "use to be...?) so if so, technically they could tell you that you're out of warranty. As discussed below, THEY are wrong in telling you that you failed to have a 60K service done as that serpentine belt still wouldn't have been automatically replaced anyway for '01 on up cars at a 60K miles service by Volvos newer maintenance standards.
Do you have VIP or any extended warranty?
If this becomes a common problem (serp belts breaking before 105K miles, causing serious engine damage), which I'd assume will happen, Volvo will have many new unhappy customers.
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