On December 22, 1995, at 1107 central standard time (cst), a Beech 58, N222RB, registered to Insight Industries, Inc., of Platteville, Wisconsin, was substantially damaged when it landed short of runway 27L at Flying Cloud Airport, Minneapolis, Minnesota. The two commercially instrument rated pilots and two passengers reported no injuries. The personal 14 CFR Part 91 flight was operating in instrument meteorological conditions. An IFR flight plan had been filed. The flight originated from Platteville, Wisconsin, at 1000 cst. During a telephone interview with the pilot-in-command (PIC), he stated he filed an IFR flight plan into moderate icing conditions. The airplane began picking up moderate icing during descent towards its destination. The pilot said he did not active the boots because only 3/8 of an inch of ice was present. The PIC backed up the second-in-command (SIC) who flew the Flying Cloud Airport VOR approach to runway 36, with a circle to land runway 27L. The SIC said she flew the approach at 135 knots because of the ice build up on the wing. While circling to land for runway 27L, the PIC stated the airplane indicated airspeed was 120 knots. He also said that the angle of bank of 70 degrees with a buffet on the airframe. PIC did not want to use flaps because of fear of a tail stall. The PIC said the airplane would not flare during the round out phase of flight. He said the nose dropped from a strong buffet. The airplane landed short of runway 27L, its nose landing gear hit first, followed by the main landing gear. "The main landing gear wheels were broken off after it collided with a snow bank that was short of the runway." The airplane bounced on to runway 27L and skidded on its belly and nose gear. The SIC stated that she was originally asked to act as PIC. However, after looking at the destination airport's current weather (700 feet overcast, 3 miles in fog, 6000 feet and below in moderate icing conditions) she asked the airplane's owner if she could be relieved of PIC duties. She said she felt uncomfortable and unfamiliar with the approach. The owner asked the PIC to go along. SIC flew the approach and the PIC took the controls after breaking out of the clouds, to circle to land runway 27L. The SIC stated, "...I didn't see it [airport]. Little room to maneuver, he had to speed in, no flaps, dropped gear and entered a steep left bank close to ground, seemed fast, I looked at the airspeed 135 indicted in turn, I was afraid of accelerated stall in that type of turn... ." The Federal Aviation Administration Principal Inspector reported that the airplane had approximately "3/8" of ice on the wings with a well developed ram horn ice formation on the tips of the wing. The airplane, certificated for flight into known icing conditions, was equipped with deicing boots. The Pilot's operating handbook stall performance for 4800 lbs, 0 degrees of flaps, at 60 degree angle of bank (maximum the handbook states) is 113 knots indicated.