Best material for attic access panel
I have a small access panel in my upstairs hallway that gets me into the attic. Currently, there's a piece of drywall that has been painted and cut to fit the space that I have to remove every time I need to get access to the attic. This piece is basically falling apart around the edges and one corner has snapped and is now hanging by the paper backing of the drywall. Last winter (our first winter in the house) there was a bit of a draft coming from that panel.
So, my question: What material would you suggest is best to use for covering the space? Also, is there anything I should do to the material to beef up its insulation capabilities? I've included a picture of what it looks like now. I look forward to reading the replies!