An improved earth-boring bit the rolling cone variety and an insert for use therein is provided. A superabrasive element is coated with at least one layer of metallic material. The superabrasive element then is placed in a receptacle cavity in a pre-formed hard metal jacket. The superabrasive element then is brazed or infiltrated to the hard metal jacket. Metallurgical and mechanical bonds between the superabrasive element, the at least one layer of metallic material on superabrasive element, the braze or infiltrant binder material, and the fracture-tough material of the hard metal jacket retain the superabrasive element in the cavity of the hard metal jacket. Improved earth-boring bits according to this embodiment of the present invention provide abrasion-resistant earth-boring bits of the rolling cutter variety. Such improved bits, and the inserts therefore, are formed without resort to high-temperature, high-pressure processes.