Panasonic Canada Inc. v. XL Specialty Insurance Company

canada, canadian, case law, court opinion, canlii, onca, 2026onca633, 2026 onca 633 (canlii), 2026, onca, 633, (canlii), coa-25-cv-1174, 2026, contracts, insurance contract interpretation, endorsements, retention, whether endorsement #023 applies to the claim, “ransomware event loss” defined as “any and all loss … involving a cyber, extortion threat”, endorsement changes the policy and amends coverage for ransomware events, appeal allowed, retention declared $3m usd, procedure, appeals, standard of review, contractual interpretation, whether correctness applies under ledcor construction ltd. v. northbridge indemnity insurance co., standard form contract, precedential value, no meaningful factual matrix, interpretation of endorsement #023 reviewed for correctness, correctness standard applied, contracts, interpretation principles, reading contract as a whole, endorsement and base policy, whether clause 5 was misread by focusing on “solely for the purposes of this endorsement”, clauses 1 to 4 and clause 15 controlling inconsistency considered, endorsements “built on the foundation of the policy” (emond v. trillium mutual insurance company), error in law found, insurance, cyber risk policy, retention and self, insured loss, ransomware event retention, whether claim is wholly self, insured because agreed, on amount is less than $3m usd retention, declaration that endorsement 23 retention applies, application dismissed as wholly self, insured within retention amount