MuniYield California Insured (MCA) -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06692

Name of Fund: BlackRock MuniYield California Insured Fund, Inc. (MCA)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock MuniYield
California Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box
9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2009

Date of reporting period: 08/01/2008 – 10/31/2008

Item 1 – Schedule of Investments

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
            Par     
    Municipal Bonds        (000)    Value 
 
 
 
 
California - 115.4%    Alameda, California, GO, 5%, 8/01/33 (a)        $ 2,350    $ 2,127,243 
   
 
 
 
    Anaheim, California, Union High School District, GO (Election of 2002),         
    5%, 8/01/27 (a)        2,400    2,276,640 
   
 
 
 
    Banning, California, Unified School District, GO (Election of 2006),         
    Series B, 5.25%, 8/01/33 (b)        4,300    4,055,459 
   
 
 
 
    Bay Area Government Association, California, Tax Allocation Revenue         
    Refunding Bonds (California Redevelopment Agency Pool), Series A,         
    6%, 12/15/24 (c)        255    255,615 
   
 
 
 
    Brentwood, California, Infrastructure Refinancing Authority, Infrastructure         
    Revenue Refunding Bonds, Series A, 5.20%, 9/02/29 (c)        3,980    3,743,429 
   
 
 
 
    California Educational Facilities Authority Revenue Bonds (University of San         
    Diego), Series A, 5.50%, 10/01/32        5,000    4,895,600 
   
 
 
 
    California Educational Facilities Authority, Student Loan Revenue Bonds         
    (CalEdge Loan Program), AMT, 5.55%, 4/01/28 (d)        7,355    6,273,080 
   
 
 
 
    California Rural Home Mortgage Finance Authority, S/F Mortgage         
    Revenue Bonds (Mortgage-Backed Securities Program), AMT, Series A,         
    6.35%, 12/01/29 (e)(f)(g)        235    238,979 
   
 
 
 
    California Rural Home Mortgage Finance Authority, S/F Mortgage         
    Revenue Bonds (Mortgage-Backed Securities Program), AMT, Series B,         
    6.25%, 12/01/31 (e)(g)        100    101,606 
   
 
 
 
    California State Department of Veteran Affairs, Home Purchase Revenue         
    Refunding Bonds, Series A, 5.35%, 12/01/27 (d)        12,680    12,238,609 
   
 
 
 
    California State, GO, 6.25%, 10/01/19 (a)        860    863,801 
   
 
 
 
    California State, GO, Refunding, Veterans, AMT, Series B,             
    5.70%, 12/01/32 (d)        19,865    17,678,261 
   
 
 
 
    California State Public Works Board, Lease Revenue Bonds (Various         
    University Projects), Series D, 5%, 5/01/26 (a)        6,010    5,655,711 
   
 
 
 
    California Statewide Communities Development Authority, Health Facility         
    Revenue Bonds (Memorial Health Services), Series A, 6%, 10/01/23    3,685    3,576,440 
   
 
 
    California Statewide Communities Development Authority Revenue Bonds         
    (Adventist), Series B, 5%, 3/01/37 (b)(h)        5,850    5,071,365 
   
 
 
 
    California Statewide Communities Development Authority Revenue Bonds         
    (Sutter Health), Series D, 5.05%, 8/15/38 (c)        7,925    7,065,613 
   
 
 
 
    California Statewide Communities Development Authority, Revenue         
    Refunding Bonds (Kaiser Permanente), Series A, 5%, 4/01/31    900    744,534 
   
 
 
    Capistrano, California, Unified School District, Community Facility District,         
    Special Tax Refunding Bonds, 5%, 9/01/29 (a)(i)        7,000    5,987,800 
   
 
 
 
    Chabot-Las Positas, California, Community College District, GO (Election of         
    2004), Series B, 5.17%, 8/01/26 (d)(j)        6,705    2,245,840 
   
 
 
 
    Chino Valley, California, Unified School District, GO (Election of 2002),         
    Series C, 5.25%, 8/01/30 (a)        3,000    2,879,550 
   
 
 
 
    Chula Vista, California, Elementary School District, COP, 5%, 9/01/29 (a)    3,910    3,360,919 
 
 
 
Portfolio Abbreviations             

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the list below.

AMT    Alternative Minimum Tax (subject to)    S/F    Single-Family 
COP    Certificates of Participation    VRDN    Variable Rate Demand Notes 
GO    General Obligation Bonds         

1

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                                           Municipal Bonds        (000)    Value 
                                                           Coachella Valley, California, Unified School District, GO (Election of 2005),         
                                                           Series A, 5%, 8/01/25 (a)(i)    $ 3,275    $ 3,059,570 
 
 
                                                           Contra Costa, California, Water District, Water Revenue Refunding Bonds,         
                                                           Series L, 5%, 10/01/32 (c)        4,135    3,840,836 
 
 
 
                                                           Contra Costa, California, Water District, Water Revenue Refunding Bonds,         
                                                           Series O, 5%, 10/01/24 (d)        1,735    1,694,002 
 
 
 
                                                           Corona, California, COP (Clearwater Cogeneration Project),             
                                                           5%, 9/01/28 (a)        6,000    5,208,840 
 
 
 
                                                           Desert, California, Community College District, GO, Series C,             
                                                           5%, 8/01/37 (c)        6,000    5,424,720 
 
 
 
                                                           Desert Sands, California, Unified School District, COP (Financing Project),         
                                                           5.75%, 3/01/24 (c)        1,000    1,020,170 
 
 
 
                                                           East Bay, California, Municipal Utility District, Wastewater System Revenue         
                                                           Refunding Bonds, Sub-Series A, 5%, 6/01/33 (d)        4,000    3,651,640 
 
 
 
                                                           East Bay, California, Municipal Utility District, Wastewater System Revenue         
                                                           Refunding Bonds, Sub-Series A, 5%, 6/01/37 (d)        1,485    1,337,213 
 
 
 
                                                           East Bay Municipal Utility District, California, Water System Revenue         
                                                           Bonds, Sub-Series A, 5%, 6/01/35 (a)        15,000    13,589,700 
 
 
 
                                                           El Centro, California, Financing Authority, Water Revenue Bonds,         
                                                           Series A, 5.25%, 10/01/35 (c)        1,100    1,019,425 
 
 
 
                                                           Fremont, California, Unified School District, Alameda County, GO,         
                                                           Series A, 5.50%, 8/01/26 (a)(i)        10,755    10,729,833 
 
 
 
                                                           Fresno, California, Joint Powers Financing Authority, Lease Revenue Bonds,         
                                                           Series A, 5.75%, 6/01/26 (c)        3,295    3,308,114 
 
 
 
                                                           Fullerton, California, Public Financing Authority, Tax Allocation Revenue         
                                                           Bonds, 5%, 9/01/27 (d)        6,930    6,218,705 
 
 
 
                                                           Glendale, California, Electric Revenue Bonds, 5%, 2/01/32 (a)        4,390    4,033,488 
 
 
 
                                                           Glendora, California, Unified School District, GO (Election of 2005),         
                                                           Series A, 5%, 8/01/27 (a)        1,350    1,280,610 
 
 
 
                                                           Glendora, California, Unified School District, GO (Election of 2005),         
                                                           Series A, 5.25%, 8/01/30 (a)        2,700    2,591,595 
 
 
 
                                                           Hanford, California, Joint Unified High School District, GO (Election of         
                                                           2004), Series A, 4.75%, 8/01/29 (c)        5,710    5,099,030 
 
 
 
                                                           Hemet, California, Unified School District, GO, Series B,             
                                                           5.125%, 8/01/37 (b)        4,500    4,118,085 
 
 
 
                                                           Hollister, California, Joint Powers Finance Authority, Wastewater         
                                                           Revenue Refunding Bonds (Refining and Improvement Project),         
                                                           Series 1, 5%, 6/01/32 (c)        5,000    4,471,500 
 
 
 
                                                           Hollister, California, Joint Powers Finance Authority, Wastewater         
                                                           Revenue Refunding Bonds (Refining and Improvement Project),         
                                                           Series 1, 5%, 6/01/37 (c)        6,000    5,258,100 
 
 
 
                                                           Imperial, California, Community College District, GO (Election of 2004),         
                                                           5%, 8/01/29 (a)(i)        3,090    2,804,020 
 
 
 
                                                           La Quinta, California, Financing Authority, Local Agency Revenue Bonds,         
                                                           Series A, 5.25%, 9/01/24 (d)        2,500    2,452,425 
 
 
 
                                                           Los Angeles, California, Unified School District, GO (Election of 2004),         
                                                           Series C, 5%, 7/01/27 (i)        2,880    2,778,163 
 
 
 
                                                           Los Angeles, California, Unified School District, GO (Election of 2004),         
                                                           Series F, 5%, 7/01/30 (i)        5,000    4,573,050 
 
 
 

2

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                                           Municipal Bonds        (000)    Value 
                                                           Los Angeles, California, Water and Power Revenue Bonds (Power System),         
                                                           Sub-Series A-1, 5%, 7/01/37 (d)        $ 5,000    $ 4,380,900 
 
 
 
                                                           Los Angeles County, California, Metropolitan Transportation         
                                                           Authority, Sales Tax Revenue Refunding Bonds, Proposition A,         
                                                           First Tier Senior-Series A, 5%, 7/01/27 (d)        5,240    5,006,872 
 
 
 
                                                           Los Angeles County, California, Metropolitan Transportation         
                                                           Authority, Sales Tax Revenue Refunding Bonds, Proposition A,         
                                                           First Tier Senior-Series A, 5%, 7/01/35 (d)        6,500    5,871,385 
 
 
 
                                                           Los Angeles County, California, Metropolitan Transportation         
                                                           Authority, Sales Tax Revenue Refunding Bonds, Proposition C, VRDN,         
                                                           Second Senior Series A, 8%, 7/01/20 (a)(h)(k)        7,500    7,500,000 
 
 
 
                                                           Los Angeles County, California, Public Works Financing Authority,         
                                                           Lease Revenue Refunding Bonds (Master Refunding Project), Series A,         
                                                           5%, 12/01/28 (a)        6,000    5,203,920 
 
 
 
                                                           Los Rios, California, Community College District, GO (Election of 2002),         
                                                           Series B, 5%, 8/01/27 (a)        3,000    2,845,800 
 
 
 
                                                           Madera, California, Public Financing Authority, Water and Wastewater         
                                                           Revenue Refunding Bonds, 5%, 3/01/36 (a)        2,010    1,788,176 
 
 
 
                                                           Merced, California, Community College District, GO (School Facilities         
                                                           District Number 1), 5%, 8/01/31 (a)        6,865    6,346,555 
 
 
 
                                                           Metropolitan Water District of Southern California, Waterworks Revenue         
                                                           Bonds, Series B-1, 5%, 10/01/33 (a)(i)        7,175    6,672,822 
 
 
 
                                                           Murrieta Valley, California, Unified School District, Public Financing         
                                                           Authority, Special Tax Revenue Bonds, Series A, 5.125%, 9/01/26 (b)    8,000    7,387,440 
 
 
                                                           Napa, California, Water Revenue Bonds, 5%, 5/01/35 (d)        9,070    8,026,950 
 
 
 
                                                           Natomas Unified School District, California, GO (Election of 2006),         
                                                           5%, 8/01/28 (a)(i)        6,015    5,505,890 
 
 
 
                                                           Oakland, California, Sewer Revenue Bonds, Series A, 5%, 6/15/29 (c)    4,270    3,983,398 
 
 
                                                           Oxnard, California, Financing Authority, Wastewater Revenue Bonds         
                                                           (Redwood Trunk Sewer and Headworks Projects), Series A,             
                                                           5.25%, 6/01/34 (a)(i)        10,000    9,283,400 
 
 
 
                                                           Oxnard, California, Unified High School District, GO, Refunding,         
                                                           Series A, 6.20%, 8/01/30 (a)        9,645    9,679,336 
 
 
 
                                                           Palm Springs, California, Financing Authority, Lease Revenue Refunding         
                                                           Bonds (Convention Center Project), Series A, 5.50%, 11/01/35 (a)    1,275    1,223,133 
 
 
                                                           Peralta, California, Community College District, GO (Election of 2007),         
                                                           Series B, 5%, 8/01/37 (c)        6,695    6,053,083 
 
 
 
                                                           Port of Oakland, California, Revenue Bonds, AMT, Series K,         
                                                           5.75%, 11/01/16 (a)(i)        3,735    3,599,046 
 
 
 
                                                           Port of Oakland, California, Revenue Bonds, AMT, Series K,         
                                                           5.875%, 11/01/17 (a)(i)        2,745    2,636,325 
 
 
 
                                                           Port of Oakland, California, Revenue Bonds, AMT, Series K,         
                                                           5.75%, 11/01/29 (a)(i)        7,500    6,417,975 
 
 
 
                                                           Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L,         
                                                           5.375%, 11/01/27 (a)(i)        19,040    15,789,682 
 
 
 
                                                           Poway, California, Unified School District, School Facilities Improvement,         
                                                           GO (Election of 2002), Series 1-B, 5%, 8/01/30 (c)        10,000    9,297,500 
 
 
 

3

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                                           Municipal Bonds        (000)    Value 
                                                           Redlands, California, Unified School District, GO (Election of 2008),         
                                                           5.25%, 7/01/33 (c)        $ 5,000    $ 4,716,150 
 
 
 
                                                           Riverside, California, COP, 5%, 9/01/28 (d)        3,000    2,670,480 
 
 
 
                                                           Riverside, California, Unified School District, GO (Election of 2001),         
                                                           Series A, 5.25%, 2/01/23 (a)(i)        6,000    6,004,020 
 
 
 
                                                           Riverside, California, Unified School District, GO (Election of 2001),         
                                                           Series B, 5%, 8/01/30 (a)        7,515    6,987,071 
 
 
 
                                                           Riverside, California, Unified School District, GO, Series C,             
                                                           5%, 8/01/32 (b)        5,010    4,580,543 
 
 
 
                                                           Sacramento, California, City Financing Authority, Capital Improvement         
                                                           Revenue Bonds (Community Rein Capital Program), Series A,         
                                                           5%, 12/01/36 (d)        3,000    2,566,080 
 
 
 
                                                           Sacramento, California, City Financing Authority, Tax Allocation         
                                                           Revenue Bonds (Merged Downtown and Oak Park Projects), Series A,         
                                                           5.03%, 12/01/32 (a)(i)(j)        6,590    1,213,680 
 
 
 
                                                           Sacramento, California, Municipal Utility District Financing Authority         
                                                           Revenue Bonds (Consumers Project), 5%, 7/01/21 (a)        4,500    4,070,925 
 
 
 
                                                           Saddleback Valley, California, Unified School District, GO, 5%, 8/01/29 (c)    2,565    2,431,543 
 
 
                                                           San Bernardino, California, City Unified School District, GO, Series A,         
                                                           5%, 8/01/28 (c)        5,000    4,752,700 
 
 
 
                                                           San Bernardino County, California, S/F Home Mortgage Revenue Refunding         
                                                           Bonds, AMT, Series A-1, 6.25%, 12/01/31 (e)(g)        155    157,482 
 
 
 
                                                           San Diego, California, Redevelopment Agency, Subordinate Tax Allocation         
                                                           Bonds (Centre City Redevelopment Project), Series A, 5.25%, 9/01/24 (d)    2,720    2,566,157 
 
 
                                                           San Diego, California, Redevelopment Agency, Subordinate Tax Allocation         
                                                           Bonds (Centre City Redevelopment Project), Series A, 5.25%, 9/01/25 (d)    2,860    2,677,561 
 
 
                                                           San Diego, California, Unified Port District, Revenue Refunding Bonds,         
                                                           AMT, Series A, 5.25%, 9/01/19 (a)        5,400    4,831,164 
 
 
 
                                                           San Diego County, California, COP (Salk Institute for Bio Studies),         
                                                           5.75%, 7/01/31 (a)        5,200    4,989,868 
 
 
 
                                                           San Francisco, California, Bay Area Rapid Transit District, Sales Tax         
                                                           Revenue Refunding Bonds, Series A, 5%, 7/01/34 (a)        10,500    9,507,855 
 
 
 
                                                           San Francisco, California, City and County Airport Commission,         
                                                           International Airport Revenue Refunding Bonds, AMT, Second Series,         
                                                           6.75%, 5/01/19        4,420    4,475,913 
 
 
 
                                                           San Francisco, California, City and County Airport Commission,         
                                                           International Airport Revenue Refunding Bonds, AMT, Second Series,         
                                                           Issue 34E, 5.75%, 5/01/24 (c)        5,000    4,466,600 
 
 
 
                                                           San Francisco, California, City and County Airport Commission,         
                                                           International Airport Revenue Refunding Bonds, AMT, Second Series,         
                                                           Issue 34E, 5.75%, 5/01/25 (c)        3,500    3,097,710 
 
 
 
                                                           San Francisco, California, City and County Airport Commission,         
                                                           International Airport, Special Facilities Lease Revenue Bonds         
                                                           (SFO Fuel Company LLC), AMT, Series A, 6.10%, 1/01/20 (c)    1,000    951,730 
 
 
                                                           San Francisco, California, City and County Airport Commission,         
                                                           International Airport, Special Facilities Lease Revenue Bonds         
                                                           (SFO Fuel Company LLC), AMT, Series A, 6.125%, 1/01/27 (c)    985    898,635 
 
 
                                                           San Jose, California, Airport Revenue Bonds, Series D, 5%, 3/01/28 (a)    4,135    3,686,973 
 
 

4

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
            Par     
    Municipal Bonds        (000)    Value 
 
 
 
 
    San Jose, California, Financing Authority, Lease Revenue Refunding Bonds         
    (Civic Center Project), Series B, 5%, 6/01/32 (d)        $ 11,400     $ 10,330,338 
   
 
 
 
    San Jose, California, GO (Libraries, Parks and Public Safety Projects),         
    5%, 9/01/27 (a)        7,910    7,647,151 
   
 
 
 
    San Jose, California, Redevelopment Agency, Tax Allocation Bonds         
    (Housing Set-Aside Merged Area), AMT, Series E, 5.85%, 8/01/27 (a)    7,300    6,459,040 
   
 
 
    San Juan, California, Unified School District, GO (Election of 2002),         
    5%, 8/01/28 (a)        4,250    4,005,370 
   
 
 
 
    San Mateo County, California, Transit District, Sales Tax Revenue         
    Refunding Bonds, Series A, 5%, 6/01/29 (a)        4,350    4,053,374 
   
 
 
 
    Santa Clara, California, Subordinated Electric Revenue Bonds, Series A,         
    5%, 7/01/28 (a)        5,500    5,146,515 
   
 
 
 
    Santa Rosa, California, High School District, GO (Election of 2002),         
    5%, 8/01/28 (a)        2,500    2,350,350 
   
 
 
 
    South Tahoe, California, Joint Powers Financing Authority, Revenue         
    Refunding Bonds (South Tahoe Redevelopment Project Area Number 1),         
    Series A, 5%, 10/01/29 (c)        1,645    1,514,683 
   
 
 
 
    Stockton, California, Public Financing Authority, Water Revenue         
    Bonds (Water System Capital Improvement Projects), Series A,         
    5%, 10/01/31 (a)        2,600    2,384,200 
   
 
 
 
    Turlock, California, Public Finance Authority, Sewer Revenue Bonds,         
    Series A, 5%, 9/15/33 (a)(i)        3,000    2,693,070 
   
 
 
 
    Vallecitos Water District and Wastewater Enterprise, California, COP,         
    Refunding, Series A, 5%, 7/01/27 (c)        2,000    1,899,740 
   
 
 
 
    Ventura County, California, Community College District, GO, Refunding,         
    Series A, 5%, 8/01/27 (a)        3,395    3,228,170 
   
 
 
 
    Vista, California, COP (Community Projects), 5%, 5/01/37 (a)    6,750    5,672,835 
   
 
 
    Vista, California, Unified School District, GO, Series B, 5%, 8/01/28 (a)(j)    2,550    2,334,168 
   
 
 
    West Contra Costa, California, Unified School District, GO (Election of         
    2002), Series B, 5%, 8/01/32 (c)        6,690    6,116,533 
   
 
 
 
    West Contra Costa, California, Unified School District, GO (Election of         
    2005), Series B, 5.625%, 8/01/35 (l)        7,500    7,518,825 
               
                481,053,718 
Puerto Rico - 6.2%    Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds,         
    Series UU, 5%, 7/01/24 (c)        7,000    6,482,490 
   
 
 
 
    Puerto Rico Municipal Finance Agency, GO, Series A, 5.75%, 8/01/12 (c)    19,000    19,408,690 
                25,891,180 
 
 
 
 
    Total Municipal Bonds - 121.6%            506,944,898 
    Municipal Bonds Transferred to Tender Option Bond Trusts (m)         
 
 
 
California - 37.1%    Alameda County, California, Joint Powers Authority, Lease Revenue         
    Refunding Bonds, 5%, 12/01/34 (c)        2,960    2,658,465 
   
 
 
 
    Anaheim, California, Public Financing Authority, Electric System         
    Distribution Facilities Revenue Bonds, Series A, 5%, 10/01/31 (c)    3,568    3,246,231 
   
 
 
    California State University, Systemwide Revenue Bonds, Series A, 5%,         
    11/01/39 (c)        4,860    4,287,735 
   
 
 
 
    Fremont, California, Unified School District, Alameda County, GO (Election         
    of 2002), Series B, 5%, 8/01/30 (c)        5,997    5,611,380 
   
 
 
 
    Lodi, California, Unified School District, GO (Election of 2002), 5%,         
    8/01/29 (c)        10,260    9,653,121 
   
 
 
 

5

BlackRock MuniYield California Insured Fund, Inc.             
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                                           Municipal Bonds Transferred to Tender Option Bond Trusts (m)    (000)     Value 
 
 
                                                           Long Beach, California, Harbor Revenue Bonds, AMT, Series A, 5.375%,         
                                                           5/15/24        $ 15,150   $ 13,835,283 
 
 
 
                                                           Los Angeles, California, Community College District, GO (Election of 2003),         
                                                           Series E, 5%, 8/01/31 (c)        7,497    6,958,288 
 
 
 
                                                           Los Angeles, California, Community Redevelopment Agency, Community         
                                                           Redevelopment Financing Authority Revenue Bonds (Bunker Hill Project),         
                                                           Series A, 5%, 12/01/27 (c)        10,000    9,312,254 
 
 
 
                                                           Los Angeles, California, Department of Water and Power, Power System         
                                                           Revenue Refunding Bonds, Series A, Sub-Series A-2, 5%, 7/01/27 (a)    16,000    14,878,400 
 
 
                                                           Los Angeles, California, Water and Power Revenue Bonds (Power System),         
                                                           Sub-Series A-1, 5.125%, 7/01/31 (c)        5,007    4,575,833 
 
 
 
                                                           Metropolitan Water District of Southern California, Waterworks Revenue         
                                                           Bonds, Series A, 5%, 7/01/37        15,000    13,862,250 
 
 
 
                                                           Palomar Pomerado Health Care District, California, GO (Election of 2004),         
                                                           Series A, 5.125%, 8/01/37 (a)        9,300    8,671,506 
 
 
 
                                                           Rancho, California, Water District Financing Authority, Revenue Refunding         
                                                           Bonds, Series A, 5%, 8/01/34 (c)        9,278    8,480,365 
 
 
 
                                                           San Diego County, California, Water Authority, Water Revenue Bonds, COP,         
                                                           Series A, 5%, 5/01/30 (c)        7,350    6,776,847 
 
 
 
                                                           San Diego County, California, Water Authority, Water Revenue Bonds, COP,         
                                                           Series A, 5%, 5/01/31 (c)        10,000    9,142,300 
 
 
 
                                                           San Diego County, California, Water Authority, Water Revenue Refunding         
                                                           Bonds, COP, Series A, 5%, 5/01/33 (c)        8,510    7,749,546 
 
 
 
                                                           San Francisco, California, Bay Area Rapid Transit District, Sales Tax         
                                                           Revenue Refunding Bonds, Series A, 5%, 7/01/30 (a)        19,630    18,207,414 
 
 
 
                                                           University of California Revenue Bonds, Series L, 5%, 5/15/40    7,398    6,584,346 
 
 
                                                           Total Municipal Bonds Transferred to             
                                                           Tender Option Bond Trusts - 37.1%            154,491,564 
 
 
 
                                                           Total Long-Term Investments (Cost - $730,609,952) - 158.7%        661,436,462 
 
 
                                                           Short-Term Securities        Shares     
 
 
 
                                                           CMA California Municipal Money Fund, 1.02% (n)(o)        29,830,413    29,830,413 
 
 
 
                                                           Total Short-Term Securities (Cost - $29,830,413) - 7.2%            29,830,413 
                                                           Total Investments (Cost - $760,440,365*) - 165.9%            691,266,875 
                                                           Other Assets Less Liabilities - 3.2%            13,300,692 
                                                           Liability for Trust Certificates, Including             
                                                           Interest Expense and Fees Payable - (22.9)%            (95,259,082) 
                                                           Preferred Shares, at Redemption Value - (46.2)%        (192,636,275) 
                                                           Net Assets Applicable to Common Shares - 100.0%        $ 416,672,210 

* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2008, as computed for federal income tax purposes, were as follows:

Aggregate cost    $ 664,929,641 
Gross unrealized appreciation    $ 802,823 
Gross unrealized depreciation    (68,167,162) 
Net unrealized depreciation    $ (67,364,339) 

6

BlackRock MuniYield California Insured Fund, Inc.

Schedule of Investments October 31, 2008 (Unaudited)

(a)      MBIA Insured.
 
(b)      Assured Guaranty Insured.
 
(c)      FSA Insured.
 
(d)      AMBAC Insured.
 
(e)      FNMA Collateralized.
 
(f)      FHLMC Collateralized.
 
(g)      GNMA Collateralized.
 
(h)      Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.
 
(i)      FGIC Insured.
 
(j)      Represents a zero-coupon bond. Rate show is effective yield at the time of purchase.
 
(k)      Security may have a maturity of more than one year at the time of issuance, but has variable rate and demand features that qualify it as a short-term security.
 
(l)      BHAC Insured.
 
(m)      Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.
 
(n)      Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
 
Affiliate    Net Activity       Income 
 
 
CMA California Municipal Money Fund    29,624,160    $ 90,722 
 
 
(o) Represents the current yield as of report date.         

  		• Effective August 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
     
     
  		• Level 1 - price quotations in active markets/exchanges for identical securities
     
     
  		• Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs)
     
     
  		• Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Fund's own assumption used in determining the fair value of investments)
     
      The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements as contained in its annual report.
     
      The following table summarizes the inputs used as of October 31, 2008 in determining the fair valuation of the Fund's investments:
     
    Valuation    Investments in 
    Inputs    Securities 
    Level 1    $ 29,830,413 
    Level 2    661,436,462 
    Level 3    - 
    Total    $ 691,266,875 

    7

    Item 2 – Controls and Procedures

    2(a) – The registrant’s principal executive and principal financial officers or persons performing similar functions
    have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under
    the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90
    days of the filing of this report based on the evaluation of these controls and procedures required by Rule
    30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

    2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-
    3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially
    affected, or are reasonably likely to materially affect, the registrant’s internal control over financial
    reporting.

    Item 3 – Exhibits

    Certifications – Attached hereto

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of
    1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
    authorized.

    BlackRock MuniYield California Insured Fund, Inc.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer of
    BlackRock MuniYield California Insured Fund, Inc.

    Date: December 19, 2008

    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of
    1940, this report has been signed below by the following persons on behalf of the registrant and in the
    capacities and on the dates indicated.

    By: /s/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniYield California Insured Fund, Inc.

    Date: December 19, 2008

    By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniYield California Insured Fund, Inc.

    Date: December 19, 2008