Abstract: A rotary cutting tool including a cutter body rotatable about a central axis and defining a plurality of recesses opening on a radial and a peripheral surface of the body. Insert support assemblies having portions extending radially from the cutter body are mounted in each recess. Each insert support assembly includes an insert support arm having a mounting portion by which the support arm is mounted to the cutter body and an insert supporting blade portion for supporting an insert a predetermined radial distance beyond the peripheral surface of the cutter body. A clamp member, secured to the cutter body, clamps the insert to the blade portion. A force generating wedge also secured to the cutter body abutably engages a surface on the clamp member and is operative to cause the clamp member to apply a clamping force to the insert. A radial adjustment acting between a wall of the associated recess and a surface on the clamp member adjusts and maintains the radial position of the clamp member.