A cutting insert is clamped in a pocket of a holder by a top clamp assembly which includes a clamp arm screwed to the holder, and a clamp plate interposed between the insert and a front part of the clamp arm. The clamp plate is formed of a harder and more wear-resistant material than the clamp arm and transmits clamping forces from the clamp arm to the cutting insert. The hard clamp plate shields the clamp arm from being impacted by chips generated during a machining operation, thereby minimizing wearing of the clamp arm.