Court finds US$3M retention applies to ransomware attack insurance claim

By Anosha Khan ( September 10, 2026, 12:57 PM EDT) -- The Ontario Court of Appeal has overturned a ruling in Panasonic Canada Inc.’s insurance coverage dispute with XL Specialty Insurance, finding that an endorsement governing cyber extortion and ransomware events with a US$3-million retention displaced the base policy’s US$1.5-million retention....