An insulating composite panel (ICP) 100, has an initial thermal resistance (R value) greater than about 50 ft2·° F.·h/Btu (8.8 K·m2/W) at a thickness less than 2.0 in (51 mm). The ICP is preassembled with a vacuum insulation panel (VIP) 102 protected by a lower rigid cover board 104 adhered to a lower surface of the VIP by a lower grid of adhesive ribbons 108, and by an upper rigid cover board 106 adhered to an upper surface of the VIP by an upper grid of adhesive ribbons 110. Each of the adhesive grids 108, 110 is augmented by a respective continuous ribbon of adhesive 112, 114 along the entire perimeter of each respective interface between the VIP 102 and each respective cover board 104, 106. The ICP has high resistance to wind uplift, mold, and fire, and low mass per unit area.