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.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer (principal 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
Date of fiscal year end: 10/31/2007
Date of reporting period: 05/01/2007 - 07/31/2007
Item 1 - Schedule of Investments
BlackRock MuniYield California Insured Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
Amount Municipal Bonds Value
California - 135.5% $ 7,000 ABAG Finance Authority for Nonprofit Corporations, California, COP
(Children's Hospital Medical Center), 6% due 12/01/2029 (a) $ 7,374
2,350 Alameda, California, GO, 5% due 8/01/2033 (f) 2,433
5,665 Alhambra, California, Unified School District, GO (Election of 2004), Series A,
5% due 8/01/2029 (b) 5,892
3,580 Anaheim, California, Public Financing Authority, Electric System Distribution
Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (e) 3,702
2,400 Anaheim, California, Union High School District, GO (Election of 2002), 5% due
8/01/2027 (f) 2,485
255 Bay Area Government Association, California, Tax Allocation Revenue Refunding
Bonds (California Redevelopment Agency Pool), Series A, 6% due 12/15/2024 (e) 257
3,990 Brentwood, California, Infrastructure Refinancing Authority, Infrastructure Revenue
Refunding Bonds, Series A, 5.20% due 9/02/2029 (e) 4,165
3,215 California Community College Financing Authority, Lease Revenue Bonds, Series A,
5.95% due 12/01/2009 (f)(g) 3,439
1,100 California Community College Financing Authority, Lease Revenue Bonds, Series A,
6% due 12/01/2009 (f)(g) 1,178
5,000 California Educational Facilities Authority Revenue Bonds (University of San
Diego), Series A, 5.50% due 10/01/2032 5,254
9,930 California Educational Facilities Authority, Student Loan Revenue Bonds
(CalEdge Loan Program), AMT, 5.55% due 4/01/2028 (a) 10,116
3,700 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series R, 3.61%
due 8/01/2023 (a)(m) 3,700
175 California HFA, Home Mortgage Revenue Bonds, VRDN, Series F, 3.66% due
2/01/2033 (a)(m) 175
2,750 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente),
Series A, 5.50% due 6/01/2022 (e)(i) 2,840
295 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds
(Mortgage-Backed Securities Program), AMT, Series A, 6.35% due 12/01/2029 (c)(d) 301
130 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds
(Mortgage-Backed Securities Program), AMT, Series B, 6.25% due 12/01/2031 (d) 132
12,680 California State Department of Veteran Affairs, Home Purchase Revenue Refunding
Bonds, Series A, 5.35% due 12/01/2027 (a) 13,318
Portfolio Abbreviations
To simplify the listings of BlackRock MuniYield California Insured Fund,
Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated
the names of many of the securities according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
GO General Obligation Bonds
HFA Housing Finance Agency
RIB Residual Interest Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
BlackRock MuniYield California Insured Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (concluded) (in Thousands)
Face
Amount Municipal Bonds Value
California $ 860 California State, GO, 6.25% due 10/01/2019 (f) $ 863
(concluded)
3,000 California State, GO, Refunding, 5.25% due 2/01/2029 3,129
3,000 California State, GO, Refunding, Series BX, 5.50% due 12/01/2031 (e) 3,004
19,865 California State, GO, Refunding, Veterans, AMT, Series B, 5.70% due
12/01/2032 (a) 20,196
4,530 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections-Ten Administrative Segregation Housing Units), Series A, 5.25%
due 3/01/2020 (a) 4,730
2,720 California State University, Systemwide Revenue Refunding Bonds, Series A,
5.125% due 11/01/2026 (a) 2,831
5,950 California State, Various Purpose, GO, 5.50% due 11/01/2033 6,361
4,100 California Statewide Communities Development Authority, COP (Kaiser Permanente),
5.30% due 12/01/2015 (e)(i) 4,227
3,685 California Statewide Communities Development Authority, Health Facility Revenue
Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 3,962
2,650 California Statewide Communities Development Authority, Revenue Refunding Bonds
(Kaiser Permanente), Series A, 5% due 4/01/2031 2,666
8,155 Calleguas-Las Virgenes, California, Public Financing Authority Revenue Bonds
(Calleguas Municipal Water District Project), Series A, 5% due 7/01/2013 (f)(g) 8,673
7,000 Capistrano, California, Unified School District, Community Facility District,
Special Tax Refunding Bonds, 5% due 9/01/2029 (b) 7,259
4,600 Ceres, California, Redevelopment Agency, Tax Allocation Bonds (Ceres Redevelopment
Project Area Number 1), 5.75% due 11/01/2010 (f)(g) 4,966
6,000 Chaffey, California, Union High School District, GO, Series C, 5.375% due
5/01/2023 (e) 6,375
3,000 Chino Valley, California, Unified School District, GO (Election of 2002),
Series C, 5.25% due 8/01/2030 (f) 3,185
5,910 Chula Vista, California, Elementary School District, COP, 5% due 9/01/2029 (f) 6,087
10,000 Coachella Valley, California, Unified School District, COP, 5% due 9/01/2036 (a) 10,316
3,275 Coachella Valley, California, Unified School District, GO (Election of 2005),
Series A, 5% due 8/01/2025 (b) 3,420
2,540 Coalinga, California, Redevelopment Agency Tax Allocation Bonds, 5.90% due
9/15/2025 (f) 2,737
4,135 Contra Costa, California, Water District, Water Revenue Refunding Bonds,
Series L, 5% due 10/01/2032 (e) 4,267
1,735 Contra Costa, California, Water District, Water Revenue Refunding Bonds,
Series O, 5% due 10/01/2024 (a) 1,833
12,180 Contra Costa County, California, COP, Refunding (Merrithew Memorial Hospital
Project), 5.375% due 11/01/2017 (f) 12,467
8,500 Corona, California, COP (Clearwater Cogeneration Project), 5% due 9/01/2028 (f) 8,728
1,485 East Bay, California, Municipal Utility District, Wastewater System Revenue
Refunding Bonds, Sub Series A, 5% due 6/01/2037 (a) 1,548
16,500 East Bay, California, Municipal Utility District, Water System Revenue Refunding
Bonds, Series A, 5% due 6/01/2037 (b) 17,202
1,100 El Centro, California, Financing Authority, Water Revenue Bonds, Series A,
5.25% due 10/01/2035 (e) 1,163
6,000 Fremont, California, Unified School District, Alameda County, GO (Election
of 2002), Series B, 5% due 8/01/2030 (e) 6,236
10,755 Fremont, California, Unified School District, Alameda County, GO, Series A,
5.50% due 8/01/2026 (b) 11,502
4,295 Fresno, California, Joint Powers Financing Authority, Lease Revenue Bonds,
Series A, 5.75% due 6/01/2026 (e) 4,553
6,930 Fullerton, California, Public Financing Authority, Tax Allocation Revenue Bonds,
5% due 9/01/2027 (a) 7,167
4,390 Glendale, California, Electric Revenue Bonds, 5% due 2/01/2032 (f) 4,502
1,350 Glendora, California, Unified School District, GO (Election of 2005), Series A,
5% due 8/01/2027 (f) 1,409
2,700 Glendora, California, Unified School District, GO (Election of 2005), Series A,
5.25% due 8/01/2030 (f) 2,877
5,710 Hanford, California, Joint Unified High School District, GO (Election of 2004),
Series A, 4.75% due 8/01/2029 (e) 5,784
6,000 Hollister, California, Joint Powers Finance Authority, Wastewater Revenue Refunding
Bonds (Refining and Improvement Project), Series 1, 5% due 6/01/2032 (e) 6,228
4,090 Imperial, California, Community College District, GO (Election of 2004), 5% due
8/01/2029 (b) 4,254
2,500 La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A,
5.25% due 9/01/2024 (a) 2,659
3,050 Little Lake, California, City School District, GO, Refunding, 5.50% due
7/01/2025 (e) 3,336
10,260 Lodi, California, Unified School District, GO (Election of 2002), 5% due
8/01/2029 (e) 10,608
8,000 Los Angeles, California, Community College District, GO (Election of 2003),
Series E, 5% due 8/01/2031 (e) 8,341
10,000 Los Angeles, California, Community Redevelopment Agency, Community Redevelopment
Financing Authority Revenue Bonds (Bunker Hill Project), Series A, 5% due
12/01/2027 (e) 10,315
290 Los Angeles, California, Department of Airports, Airport Revenue Bonds
(Los Angeles International Airport), AMT, Series D, 5.625% due 5/15/2012 (b) 290
2,880 Los Angeles, California, Unified School District, GO (Election of 2004),
Series C, 5% due 7/01/2027 (b) 3,018
5,000 Los Angeles, California, Unified School District, GO (Election of 2004),
Series F, 5% due 7/01/2030 (b) 5,215
5,015 Los Angeles, California, Unified School District, GO, Refunding, Series B,
4.75% due 7/01/2024 (b) 5,117
4,000 Los Angeles, California, Unified School District, GO, Refunding, Series B,
4.75% due 7/01/2025 (b) 4,073
7,000 Los Angeles, California, Unified School District, GO, Series E, 5% due
7/01/2030 (a) 7,273
5,000 Los Angeles, California, Wastewater System Revenue Refunding Bonds, Series A,
4.75% due 6/01/2035 (f) 5,036
5,000 Los Angeles, California, Water and Power Revenue Bonds (Power System),
Sub-Series A-1, 5% due 7/01/2031 (e) 5,192
3,165 Los Angeles, California, Water and Power Revenue Refunding Bonds (Power System),
Series A-A-2, 5.375% due 7/01/2021 (f) 3,324
5,240 Los Angeles County, California, Metropolitan Transportation Authority, Sales
Tax Revenue Refunding Bonds, Proposition A, First Tier Senior Series A, 5%
due 7/01/2027 (a) 5,455
6,500 Los Angeles County, California, Metropolitan Transportation Authority, Sales
Tax Revenue Refunding Bonds, Proposition A, First Tier Senior Series A, 5%
due 7/01/2035 (a) 6,749
2,000 Los Angeles County, California, Metropolitan Transportation Authority, Sales
Tax Revenue Refunding Bonds, Proposition C, Second Tier Senior Series A, 5.25%
due 7/01/2010 (b)(g) 2,103
8,735 Los Angeles County, California, Public Works Financing Authority, Lease Revenue
Refunding Bonds (Master Refunding Project), Series A, 5% due 12/01/2028 (f) 9,023
3,000 Los Rios, California, Community College District, GO (Election of 2002), Series B,
5% due 8/01/2027 (f) 3,108
2,010 Madera, California, Public Financing Authority, Water and Wastewater Revenue
Refunding Bonds, 5% due 3/01/2036 (f) 2,084
6,865 Merced, California, Community College District, GO (School Facilities District
Number 1), 5% due 8/01/2031 (f) 7,158
5,370 Metropolitan Water District of Southern California, Waterworks Revenue Bonds,
Series B-1, 5% due 10/01/2033 (b) 5,537
8,000 Murrieta Valley, California, Unified School District, Public Financing Authority,
Special Tax Revenue Bonds, Series A, 5.125% due 9/01/2026 (l) 8,381
6,015 Natomas Unified School District, California, GO (Election of 2006), 5% due
8/01/2028 (b) 6,256
4,245 Nevada County, California, COP, Refunding, 5.25% due 10/01/2019 (f) 4,438
2,000 New Haven, California, Unified School District, GO, Refunding, 5.75% due
8/01/2020 (e) 2,158
4,270 Oakland, California, Sewer Revenue Bonds, Series A, 5% due 6/15/2029 (e) 4,420
2,000 Oakland, California, State Building Authority, Lease Revenue Bonds (Elihu M.
Harris State Office Building), Series A, 5.50% due 4/01/2008 (a)(g) 2,045
1,245 Orange County, California, Airport Revenue Refunding Bonds, AMT, 5.625% due
7/01/2012 (f) 1,271
6,360 Orange County, California, Public Financing Authority, Lease Revenue Refunding
Bonds (Juvenile Justice Center Facility), 5.375% due 6/01/2018 (a) 6,766
10,000 Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk
Sewer and Headworks Projects), Series A, 5.25% due 6/01/2034 (b) 10,524
9,645 Oxnard, California, Unified High School District, GO, Refunding, Series A, 6.20%
due 8/01/2030 (f) 11,065
1,275 Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds
(Convention Center Project), Series A, 5.50% due 11/01/2035 (f) 1,382
4,640 Palmdale, California, Water District Public Facility Corporation, COP, 5% due
10/01/2029 (b) 4,775
5,000 Placentia-Yorba Linda, California, Unified School District, COP, 5% due
10/01/2030 (b) 5,159
5,000 Placentia-Yorba Linda, California, Unified School District, GO (Election of 2002),
Series C, 5% due 8/01/2029 (f) 5,201
3 Port of Oakland, California, RIB, AMT, Series 1192, 6.86% due 11/01/2027 (b)(h)(p) 3
7,500 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due 11/01/2029 (b) 7,800
3,000 Riverside, California, COP, 5% due 9/01/2028 (a) 3,081
6,000 Riverside, California, Unified School District, GO (Election of 2001), Series A,
5.25% due 2/01/2023 (b) 6,325
7,515 Riverside, California, Unified School District, GO (Election of 2001), Series B,
5% due 9/01/2030 (f) 7,841
4,500 Riverside County, California, Asset Leasing Corporation, Leasehold Revenue
Refunding Bonds (Riverside County Hospital Project), Series B, 5.70% due
6/01/2016 (f) 4,900
3,000 Sacramento, California, City Financing Authority, Capital Improvement Revenue
Bonds (Community Rein Capital Program), Series A, 5% due 12/01/2036 (a) 3,102
6,590 Sacramento, California, City Financing Authority, Tax Allocation Revenue Bonds
(Merged Downtown and Oak Park Projects), Series A, 5.03% due 12/01/2032 (b)(n) 1,943
2,565 Saddleback Valley, California, Unified School District, GO, 5% due 8/01/2029 (e) 2,657
5,000 San Bernardino, California, City Unified School District, GO, Series A, 5% due
8/01/2028 (e) 5,170
320 San Bernardino County, California, S/F Home Mortgage Revenue Refunding Bonds, AMT,
Series A-1, 6.25% due 12/01/2031 (d) 326
2,720 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds
(Centre City Redevelopment Project), Series A, 5.25% due 9/01/2024 (a) 2,910
2,860 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds
(Centre City Redevelopment Project), Series A, 5.25% due 9/01/2025 (a) 3,051
5,400 San Diego, California, Unified Port District, Revenue Refunding Bonds, AMT,
Series A, 5.25% due 9/01/2019 (f) 5,697
3,570 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due
7/01/2022 (f) 3,806
5,200 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due
7/01/2031 (f) 5,538
7,350 San Diego County, California, Water Authority, Water Revenue Bonds, COP,
Series A, 5% due 5/01/2030 (e) 7,583
10,000 San Diego County, California, Water Authority, Water Revenue Bonds, COP,
Series A, 5% due 5/01/2031 (e) 10,310
5,000 San Francisco, California, Bay Area Rapid Transit District, GO (Election of 2004),
Series B, 5% due 8/01/2035 5,225
9,630 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue
Refunding Bonds, Series A, 5% due 7/01/2030 (f) 10,006
6,455 San Francisco, California, City and County Airport Commission, International
Airport Revenue Refunding Bonds, Second Series 28B, 5.25% due 5/01/2012 (f)(g) 6,879
1,000 San Francisco, California, City and County Airport Commission, International
Airport, Special Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT,
Series A, 6.10% due 1/01/2020 (e) 1,028
985 San Francisco, California, City and County Airport Commission, International
Airport, Special Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT,
Series A, 6.125% due 1/01/2027 (e) 1,013
1,735 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2019 (b) 1,833
1,730 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2020 (b) 1,828
1,925 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2021 (b) 2,034
4,135 San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (f) 4,247
1,632 San Jose, California, Financing Authority, Lease Revenue Refunding Bonds,
DRIVERS, Series 1280Z, 6.091% due 12/01/2010 (a)(h)(p) 1,705
7,300 San Jose, California, Redevelopment Agency, Tax Allocation Bonds (Housing
Set-Aside Merged Area), AMT, Series E, 5.85% due 8/01/2027 (f) 7,503
4,250 San Juan, California, Unified School District, GO (Election of 2002), 5% due
8/01/2028 (f) 4,390
4,350 San Mateo County, California, Transit District, Sales Tax Revenue Refunding Bonds,
Series A, 5% due 6/01/2029 (f) 4,521
2,595 Santa Clara, California, Redevelopment Agency, Tax Allocation Bonds (Bayshore
North Project), Series A, 5.25% due 6/01/2019 (a) 2,682
5,500 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5% due
7/01/2028 (f) 5,681
1,100 Santa Clara Valley, California, Water District, Water Utility System Revenue,
Series A, 5.125% due 6/01/2010 (b)(g) 1,141
3,000 Santa Rosa, California, High School District, GO, 5.375% due 8/01/2026 (e) 3,164
2,500 Santa Rosa, California, High School District, GO (Election of 2002), 5% due
8/01/2028 (f) 2,582
6,750 Shasta, California, Joint Powers Financing Authority, Lease Revenue Bonds
(County Administration Building Project), Series A, 5% due 4/01/2033 (f) 6,924
1,645 South Tahoe, California, Joint Powers Financing Authority, Revenue Refunding
Bonds (South Tahoe Redevelopment Project Area Number 1), Series A, 5% due
10/01/2029 (e) 1,693
5,000 Southern California Public Power Authority, Power Project Revenue Bonds
(Magnolia Power Project), Series A-1, 5% due 7/01/2013 (a)(g) 5,318
2,600 Stockton, California, Public Financing Authority, Water Revenue Bonds (Water
System Capital Improvement Projects), Series A, 5% due 10/01/2031 (f) 2,702
1,054 Stockton, California, Public Financing Revenue Refunding Bonds, Series A,
5.875% due 9/02/2016 (e) 1,064
1,500 Tehachapi, California, COP, Refunding (Installment Sale), 5.75% due 11/01/2016 (e) 1,621
6,000 Tracy, California, Community Development Agency, Tax Allocation Refunding Bonds,
Series A, 5% due 3/01/2034 (a) 6,152
3,000 Turlock, California, Public Finance Authority, Sewer Revenue Bonds, Series A,
5% due 9/15/2033 (b) 3,093
14,830 University of California Revenue Bonds (Multiple Purpose Projects), Series Q,
5% due 9/01/2011 (e)(g) 15,666
4,465 University of California Revenue Bonds, Series A, 4.75% due 5/15/2023 (f) 4,555
4,790 University of California Revenue Bonds, Series O, 5.125% due 9/01/2010 (b)(g) 5,029
3,395 Ventura County, California, Community College District, GO, Refunding, Series A,
5% due 8/01/2027 (f) 3,516
2,550 Vista, California, Unified School District, GO, Series B, 5% due 8/01/2028 (b) 2,634
2,185 Walnut, California, Public Financing Authority, Tax Allocation Revenue Bonds
(Walnut Improvement Project), 5.375% due 9/01/2021 (a) 2,303
6,690 West Contra Costa, California, Unified School District, GO (Election of 2002),
Series B, 5% due 8/01/2032 (e) 6,861
Puerto Rico - 6.0% 5,000 Puerto Rico Commonwealth, GO, 4.875% due 7/01/2023 (f) 5,082
4,335 Puerto Rico Commonwealth, Public Improvement, GO, 5.75% due 7/01/2010 (f) 4,569
7,000 Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series UU,
5% due 7/01/2024 (e) 7,421
10,000 Puerto Rico Municipal Finance Agency, GO, RIB, Series 225, 7.59% due
8/01/2012 (e)(h)(p) 10,950
13,000 Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Refunding Bonds,
Series A, 5.04% due 8/01/2045 (f)(n) 2,011
Total Municipal Bonds (Cost - $693,881) - 141.5% 710,992
Municipal Bonds Held in Trust (o)
California - 25.4% 10,000 East Bay Municipal Utility District, California, Water System Revenue Bonds,
Sub-Series A, 5% due 6/01/2035 (f) 10,367
15,150 Long Beach, California, Harbor Revenue Bonds, AMT, Series A, 5.375% due 5/15/2024 15,719
16,000 Los Angeles, California, Department of Water and Power, Power System Revenue
Refunding Bonds, Series A, Sub-Series A-2, 5% due 7/01/2027 (f) 16,562
9,180 Port of Oakland, California, Port Revenue Bonds, AMT, Series K, 5.75% due
11/01/2012 (b) 9,582
10,820 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due
11/01/2013 (b) 11,294
19,035 Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L, 5.375%
due 11/01/2027 (b) 19,841
24,710 San Diego, California, Certificates of Undivided Interest Revenue Bonds (Water
Utility Fund), 5.20% due 8/01/2024 (b) 25,240
10,500 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue
Refunding Bonds, Series A, 5% due 7/01/2034 (f) 10,892
8,137 San Jose, California, Financing Authority, Lease Revenue Refunding Bonds
(Civic Center Project), Series B, 5% due 6/01/2032 (a) 8,320
Total Municipal Bonds Held in Trust (Cost - $127,791) - 25.4% 127,817
Shares
Held Short-Term Securities
38 CMA California Municipal Money Fund, 3.07% (j)(k) 38
Total Short-Term Securities (Cost - $38) - 0.0% 38
Total Investments (Cost - $821,710*) - 166.9% 838,847
Other Assets Less Liabilities - 1.2% 5,807
Liability for Trust Certificates, Including Interest Expense Payable - (13.3%) (66,796)
Preferred Stock, at Redemption Value - (54.8%) (275,276)
----------
Net Assets Applicable to Common Stock - 100.0% $ 502,582
==========
* The cost and unrealized appreciation (depreciation) of investments
as of July 31, 2007, as computed for federal income tax purposes,
were as follows:
Aggregate cost $ 755,464
================
Gross unrealized appreciation $ 18,983
Gross unrealized depreciation (1,908)
----------------
Net unrealized appreciation $ 17,075
================
(a) AMBAC Insured.
(b) FGIC Insured.
(c) FHLMC Collateralized.
(d) FNMA/GNMA Collateralized.
(e) FSA Insured.
(f) MBIA Insured.
(g) Prerefunded.
(h) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(i) Escrowed to maturity.
(j) 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:
Net Dividend
Affiliate Activity Income
CMA California Municipal Money Fund (1,086) $114
(k) Represents the current yield as of July 31, 2007.
(l) Assured Guaranty Insured.
(m) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
(n) Represents a zero coupon bond; the interest rate shown is the effective
yield at the time of purchase.
(o) Securities represent underlying bonds transferred to a separate
securitization trust established in a tender option bond transaction in
which the Fund may have acquired the residual interest certificates.
These securities serve as collateral in a financing transaction.
(p) These securities are short-term floating rate certificates issued by
tender option bond trusts and are secured by the underlying municipal
bond securities.
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 and 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
(17 CFR 270.30a-3(d)) 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/ Robert C. Doll, Jr.
------------------------
Robert C. Doll, Jr.,
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield California Insured Fund, Inc.
Date: September 20, 2007
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/ Robert C. Doll, Jr.
------------------------
Robert C. Doll, Jr.,
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield California Insured Fund, Inc.
Date: September 20, 2007
By: /s/ Donald C. Burke
--------------------
Donald C. Burke,
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield California Insured Fund, Inc.
Date: September 20, 2007