Crain closing Business Insurance

Crain editorial employees received the following announcement on Tuesday:

Today we announced that we are discontinuing our Business Insurance brand.

For nearly 50 years, Business Insurance has been the commercial insurance industry’s leading source of news and information. However, even after heavily investing in an extremely talented team, market shifts proved too great to maintain healthy revenue growth despite our staff’s best efforts.

We have been actively investing in brands that provide the best revenue mix of print, digital, content marketing and events in markets with proven growth potential. The company is continually reviewing its portfolio against this strategy.

The Aug. 1 issue of Business Insurance was its last print issue; the website, businessinsurance.com, and the Business Insurance events business will cease operation as of Aug. 9.

Crain HR officials are meeting with Business Insurance staff to discuss their future with the company.

We are grateful to our entire Business Insurance staff, and their loyal readers and advertising partners, for their efforts and tremendous support these many years.

Sincerely, KC and Chris Crain