Bell-shaped milling cutter for producing preferably profiled, arcuate grooves, has a main body in the form of a circular disk and a plurality of cutting edge carriers which extend substantially perpendicularly to the plane of the main body and which are arranged in succession in the peripheral direction along a circular path about the center of the main body and are mounted releasably to the main body. To provide a bell-shaped milling cutter having the features set out in the opening part of this specification, which permits simplified and less expensive production of arcuate grooves without having to forego the precise arrangement and orientation of the cutting bits of the known bell-shaped milling cutters, provided at the main body are positioning devices which permit mounting of the cutting edge carriers in a plurality of mutually different radial spacings on the main body.

A cutting tool and a cutting insert, each of which including a base surface and an anti-slip arrangement adjacent thereto. Each anti-slip arrangement includes an actuator surface and non-parallel first and second abutment surfaces, and the actuator surface of the cutting tool is a surface of a clamp of the cutting tool. The cutting insert is mounted on the cutting tool via engagement of the base surfaces thereof and the clamp is operable to bias the actuator surfaces against each other and thereby force the first and second abutment surfaces against each other, for preventing slippage of the cutting insert along the tool's base surface.