There is disclosed a coated cutting insert particularly useful for cutting in cast iron materials. The insert is characterized by a straight WC-Co cemented carbide body having a highly W-alloyed Co binder phase, a well-defined surface content of Co and a coating including an innermost layer of TiC.sub.xN.sub.yO.sub.z with columnar grains, a layer of a fine-grained, textured Al.sub.2O.sub.3 layer and a top layer of TiC.sub.xN.sub.yO.sub.z that has been removed along the cutting edge line.