Cutting insert and tool having a cutting insert

A cutting tool comprising a milling tool holder having at least one cutting-insert recess, and a cutting insert in said recess comprising a generally flat cutting-insert body of polygonal shape and opposite sides, said body being formed along at least one of said sides with a cutting corner defined between two angularly adjoining cutting edges at junctions between a rake face formed on said one of said sides and respective clearance faces extending between said sides, a spherically segmental indentation being formed in said rake face at said corner and intersecting said cutting edges with respective arcs where said cutting edges adjoin at said corner, said cutting edges being linear over stretches thereof extending away from said arcs.