Your feed is too slow. If you get chipping your feed is too fast.
IMO .004-.005 would be a finishing feed rate.
Roughing between .008 - .010.
DOC is a little light as well (OK for a finishing pass).
Obviously that is a very small insert, and you didn't mention diameter, insert coating or cutter holder type.
Stainless is best to be cut with major coolant flood.