A deeper look: Retail

These businesses sell goods directly to consumers. Gore is looking for well-managed operations with strong track records. Ideal risks have modern security, strong loss control, and clean, customer-friendly environments.
Appetite at a glance





Business category 
Examples 


Beauty & Health 


Drug Stores - Prescriptions and General Merchandise
Cosmetic & Beauty Supplies Store
Hair and Beauty Products Store 




Apparel  


Clothing Store  
Shoe Repair & Shine
Fabric
Optical




Electronics


Electronic Equipment
Drafting Instruments & 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 





 
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 review for the types of products imported. 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: Canadian 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: 2  
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