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.