Feasting on Ideas to Improve Performance

More than 100 FEI Kansas City members and guests attended the 2015 Fall Feast Professional Development Day on November 16 in Overland Park. The day of CPE-credit workshops, interspersed with meals and networking, served up expert advice on topics as varied as healthcare and cyber-security, ownership transitions and tax incentives.

Capping the day, the dinner session featured Dan Solomon, the Chief Risk Officer of Koch Industries, with a thought-provoking discussion of Koch’s philosophy on analyzing and accepting risks in its diverse global businesses – rather than insuring against them. Dan says Koch avoids buying insurance, except where it is required, and deploys the money it saves into higher-return investments. Koch also scrutinizes all forms of “embedded insurance,” defensive practices such as keeping extra inventory and back-up systems. The strategy is enabled by private owners with deep pockets.

 

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