The invention comprises a product. The product comprises a foam insulating panel having a first primary surface and an opposite second primary surface and a laminated fabric attached to the first primary surface of the foam insulating panel. The laminated fabric is impregnated with an air-resistant, water-resistant, vapor permeable, elastomeric polymeric material, wherein the air-resistant, water-resistant, vapor permeable elastomeric polymeric material has an elongation factor of greater than 100%, a water vapor transmission rating of at least 0.1 perm and an air permeance of less than 0.004 cfm/sq. ft. under a pressure differential of 0.3 inches of water, whereby the air-resistant, water-resistant, vapor permeable elastomeric polymeric material provides a water-resistant, vapor permeable air barrier. The laminated fabric comprises a woven or nonwoven carrier portion and a woven or nonwoven reinforcing portion attached to the carrier portion. A method of making a composite sheathing panel is also disclosed.