Ontario Court of Appeal: Insurance coverage analysis turns on nature of loss, not coverage grant selected
In Panasonic Canada Inc. v. XL Specialty Insurance Company, 2026 ONCA 633, the Ontario Court of Appeal held that a ransomware endorsement applied to losses arising from a ransomware attack, even though the insured did not pay a ransom and sought coverage under other coverage grants in the base policy. The decision underscores that endorsement wording may govern ransomware-related losses based on the nature of the loss, regardless of the…

