Abstract: A method of mounting a hard insert in a cutting tool such as a drill bit is disclosed. The insert has a head and a shank which tapers inwardly in a direction away from the head of the insert. The cutting tool body has several seats which are shaped and tapered complementally to the insert shank. The insert is pressed or tapped into the seat so that the insert shank engages the seat in the tool in a friction fit. The insert shank may be frustoconical, or, alternatively, polygonal or irregular in shape. The taper of the shank (and the complemental taper of the seat) should be relatively shallow, with an included angle in the range of 4.degree. to 14.degree.. Preferably, the included angle of the shank should be slightly greater than that of the seat.