An object of the present invention is to provide an electrically insulative resin composition that exhibits superior electrical properties and processability and an electric wire or cable having a covering made of the resin. The electrically insulative resin composition comprises 60 to 90 percent by weight of ethylene-.alpha.-olefin copolymer (A) polymerized with a single-site catalyst and 40 to 10 percent by weight of another polyolefin resin (B), which is other than (A), wherein the composition contains a polyolefin having a graft-polymerized substituent with a dipole moment of not less than 4 Debye.