A deeper look at our target segments: Retail

As part of our continued focus on Main Street businesses, we’re taking a closer look at one of our core target segments: Retail. These businesses sell goods directly to consumers and maintain a visible presence within their communities. Our appetite focuses on well-managed operations with proven track records, modern security, effective loss control, and clean, customer-friendly environments.
While some brokers may find this overview familiar, it remains fundamental to how we evaluate and underwrite community-focused operations.  
Appetite at a glance




Business category 


Examples  




Beauty & Health



Drug stores – Prescriptions and general merchandise
Cosmetics & beauty supplies store
Hair and beauty products store 





Apparel



Clothing store
Shoe repair & shine 
Fabric 
Optical 





Electronics 



Electronic equipment 
Drafting instrument & supplies store
Cameras and photography supplies 





Food 



Bakeries 
Ice cream shops
Candy, confectionery
Frozen foods
Butcher shops
Delicatessens and/or café – unlicensed
Beer & wine making supplies  





Hobbies & crafts



Party supply store
Pet shops and grooming
Craft & sewing store – Including classes
Musical instruments store
Hobby shops





Home goods & decor 



Paint and wallpaper
Carpets & other flooring coverings
Draperies, curtains, linen
Office furniture
Furniture stores
Pictures, prints – Including Framing
China, crockery, glassware, gift store





*All risks are subject to underwriting review
General underwriting considerations

Specialized coverage: Retail businesses rely on cash registers, refrigeration, and HVAC systems. If any of these break down, it can lead to lost sales, spoiled inventory, and costly repairs. Consider equipment breakdown coverage. Gore’s extended bundle also includes beneficial coverage for retail operations such as deferred payment plan stock. Subject to terms and conditions, it covers stock sold on a conditional or installment basis. If insured damage occurs before full payment is received, the unpaid balance is covered (excludes purchaser default). 
Client-specific exposures: Retail operations that directly import from outside North America may require additional underwriting review. If there are sales outside of North America be sure to let us know, so we can review for acceptability. 
Business interruption: Consider the type of retail operation, its reliance on foot traffic and supply chains, and the strength of its contingency planning.  How prepared are they to navigate unexpected challenges to maintain business continuity? 
Geographic scope: Our appetite is focused on Canadian-based retail businesses 
Submission quality: Detailing operations, and an understanding of all products sold helps us deliver a faster, smoother response. 
Premises condition and age: For businesses operating out of older buildings (40+ years), ensure that electrical, plumbing, heating, and roofing have been updated.

Real-world example: Why we wrote this account

Client profile: Carpet & flooring store 
Established: 1989
Locations: Two 
Annual revenue: $5.5M
Average location insured value: $2.8M
Risk highlights: 

Claims-free history and continuous coverage  
Buildings are older but fully updated (electrical, plumbing, HVAC, roof)  


Why it was a fit: 

Transparent quoting process with the broker and solid industry experience 
No gaps in coverage or non-payments 
Low-risk retail environment allowed for competitive pricing