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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 811-21179

Name of Fund: BlackRock New York Insured Municipal Income Trust (BSE)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New York Insured Municipal Income Trust, 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: 08/31/2008

Date of reporting period: 09/01/2008 – 11/30/2008

Item 1 – Schedule of Investments

BlackRock New York Insured Municipal Income Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
  Municipal Bonds   (000 )   Value
New York - 130.5% Herkimer County, New York, IDA, Civic Facility Revenue Bonds          
  (Herkimer College Foundation, Inc.), 6.25%, 8/01/34 $ 1,000   $ 767,220
  Hudson Yards Infrastructure Corporation, New York, Revenue          
  Bonds, Series A, 5%, 2/15/47 (a)   3,000     2,293,590
  Long Island Power Authority, New York, Electric System Revenue          
  Refunding Bonds, Series B, 5%, 12/01/35 (b)   1,000     902,830
  Long Island Power Authority, New York, Electric System Revenue          
  Refunding Bonds, Series F, 4.25%, 5/01/33 (c)   1,415     1,025,903
  Madison County, New York, IDA, Civic Facility Revenue Bonds          
  (Colgate University Project), Series A, 5%, 7/01/30 (d)   1,000     944,450
  Metropolitan Transportation Authority, New York, Revenue          
  Bonds, Series C, 6.50%, 11/15/28   750     780,075
  Metropolitan Transportation Authority, New York, Revenue          
  Refunding Bonds, Series A, 5.25%, 11/15/31 (a)(c)   4,250     3,782,713
  Metropolitan Transportation Authority, New York, Revenue          
  Refunding Bonds, Series E, 5.25%, 11/15/31 (a)(c)   2,660     2,367,533
  Metropolitan Transportation Authority, New York, Service          
  Contract Revenue Refunding Bonds, Series A, 5%, 7/01/30 (d)   10,000     8,699,700
  New York City, New York, City IDA, PILOT Revenue Bonds          
  (Queens Baseball Stadium Project), 5%, 1/01/46 (d)   3,225     2,349,090
  New York City, New York, City IDA, PILOT Revenue Bonds          
  (Yankee Stadium Project), 4.75%, 3/01/46 (c)   1,000     702,150
  New York City, New York, City Municipal Water Finance          
  Authority, Water and Sewer System Revenue Bonds, Series A,          
  5.75%, 6/15/40   300     300,930
  New York City, New York, City Transitional Finance Authority,          
  Building Aid Revenue Bonds, Series S-2, 5%, 1/15/37 (a)(b)   1,000     907,580
  New York City, New York, City Transitional Finance Authority,          
  Future Tax Secured, Revenue Refunding Bonds, Series B, 5%,          
  5/01/30 (d)   5,765     5,446,138
  New York City, New York, GO, Refunding, VRDN, Series H, Sub-          
  Series H-3, 1.30%, 8/01/19 (b)(e)(f)   50     50,000
  New York City, New York, IDA, Civic Facility Revenue Bonds (Lycee          
  Francais de New York Project), Series A, 5.375%, 6/01/23 (g)   2,500     2,019,850
  New York City, New York, Sales Tax Asset Receivable          
  Corporation Revenue Bonds, Series A, 5%, 10/15/32 (d)   6,000     5,656,680
  New York City, New York, Trust for Cultural Resources Revenue          
  Refunding Bonds (American Museum of Natural History), Series A,          
  5%, 7/01/44 (c)   4,100     3,636,126
 
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.
             
GO   General Obligation Bonds   PILOT   Payment in Lieu of Taxes
IDA   Industrial Development Authority   VRDN   Variable Rate Demand Notes

1

BlackRock New York Insured Municipal Income Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
  Municipal Bonds   (000 )   Value
  New York Convention Center Development Corporation, New York,          
  Revenue Bonds (Hotel Unit Fee Secured), 5%, 11/15/44 (d) $ 6,175   $ 5,016,817
  New York State Dormitory Authority, Hospital Revenue Bonds          
  (Lutheran Medical Center), 5%, 8/01/31 (c)(h)   7,000     5,762,750
  New York State Dormitory Authority, Hospital Revenue Refunding          
  Bonds (New York and Presbyterian Hospital), 5%, 8/01/32 (d)(h)   4,000     3,263,000
  New York State Dormitory Authority, Lease Revenue Bonds          
  (State University Dormitory Facilities), 5%, 7/01/37 (d)   500     458,775
  New York State Dormitory Authority, Mortgage Hospital Revenue          
  Bonds (Saint Barnabas Hospital), Series A, 5%, 2/01/31 (d)(h)   6,000     4,950,060
  New York State Dormitory Authority, Non-State Supported Debt,          
  Lease Revenue Bonds (Municipal Health Facilities Improvement          
  Program), Sub-Series 2-5, 5%, 1/15/32   700     613,795
  New York State Dormitory Authority, Non-State Supported Debt,          
  Revenue Refunding Bonds (Mount Sinai School of Medicine of          
  New York University), 5%, 7/01/35 (c)   2,500     2,108,550
  New York State Dormitory Authority, Non-State Supported Debt,          
  Revenue Refunding Bonds (School District Financing Program),          
  Series A, 5%, 10/01/35 (b)   1,000     895,460
  New York State Dormitory Authority Revenue Bonds (Brooklyn          
  Law School), Series B, 5.125%, 7/01/30 (i)   4,000     3,297,920
  New York State Dormitory Authority Revenue Bonds (Fashion          
  Institute of Technology Student Housing Corporation), 5.125%,          
  7/01/14 (a)(j)   2,500     2,787,900
  New York State Dormitory Authority Revenue Bonds (New York          
  University), Series 2, 5%, 7/01/41 (d)   7,000     6,354,250
  New York State Dormitory Authority Revenue Bonds (SS Joachim          
  and Anne Residence), 5.25%, 7/01/27   3,000     2,718,570
  New York State Dormitory Authority Revenue Bonds (School          
  Districts Financing Program), Series D, 5%, 10/01/30 (c)   3,500     3,167,500
  New York State Dormitory Authority, Revenue Refunding Bonds          
  (School Districts Financing Program), Series A, 5%, 4/01/31 (c)   2,000     1,803,200
  New York State Dormitory Authority, Revenue Refunding Bonds          
  (Winthrop S. Nassau University), Series A, 5.25%, 7/01/31 (d)   2,000     1,871,900
  New York State Dormitory Authority, State Personal Income Tax          
  Revenue Bonds (Education), Series B, 5.75%, 3/15/36   600     605,514
  New York State Dormitory Authority, State Supported Debt          
  Revenue Bonds (Mental Health Services Facilities), Series A, 5%,          
  2/15/33 (b)   1,100     982,245
  New York State, GO, Series A, 4.125%, 3/01/37 (a)(c)   120     86,011
  New York State Thruway Authority, General Revenue Refunding          
  Bonds, Series H, 5%, 1/01/37 (a)(b)   4,000     3,604,720
            92,981,495
Puerto Rico - 15.6% Puerto Rico Commonwealth Aqueduct and Sewer Authority,          
  Senior Lien Revenue Bonds, Series A, 5.125%, 7/01/47 (k)   1,925     1,602,216

2

BlackRock New York Insured Municipal Income Trust  
Schedule of Investments November 30, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par        
  Municipal Bonds   (000 )   Value  
  Puerto Rico Commonwealth, GO, Refunding, Sub-Series C-7, 6%,            
  7/01/27 (c) $ 1,000      $ 906,440  
  Puerto Rico Commonwealth Highway and Transportation            
  Authority, Highway Revenue Refunding Bonds, Series CC, 5.50%,            
  7/01/31 (b)   1,000     933,840  
  Puerto Rico Commonwealth Highway and Transportation            
  Authority, Highway Revenue Refunding Bonds, Series CC, 5.25%,            
  7/01/34 (b)   1,000     888,180  
  Puerto Rico Commonwealth Highway and Transportation            
  Authority, Highway Revenue Refunding Bonds, Series CC, 5.25%,            
  7/01/36 (b)   1,000     879,910  
  Puerto Rico Electric Power Authority, Power Revenue Refunding            
  Bonds, Series SS, 5%, 7/01/25 (c)   1,000     808,830  
  Puerto Rico Housing Financing Authority, Capital Funding            
  Program, Subordinate Revenue Refunding Bonds, 5.125%,            
  12/01/27   500     461,975  
  Puerto Rico Industrial, Tourist, Educational, Medical and            
  Environmental Control Facilities Revenue Bonds (University            
  Plaza Project), Series A, 5%, 7/01/33 (c)   1,000     737,090  
  Puerto Rico Industrial, Tourist, Educational, Medical and            
  Environmental Control Facilities, Revenue Refunding Bonds            
  (Polytechnic University), Series A, 5%, 8/01/32 (g)   4,000     2,570,400  
  Puerto Rico Municipal Finance Agency, GO, Series A, 5%,            
  8/01/30 (b)   1,000     854,710  
  Puerto Rico Public Buildings Authority, Government Facilities            
  Revenue Refunding Bonds, Series M-3, 6%, 7/01/28 (c)(l)   500     451,020  
            11,094,611  
  Total Municipal Bonds - 146.1%         104,076,106  
  Municipal Bonds Transferred to            
  Tender Option Bond Trusts (m)            
New York - 19.4% Metropolitan Transportation Authority, New York, Revenue            
  Refunding Bonds, Series A, 5%, 11/15/30 (b)   6,087     5,288,609  
  Triborough Bridge and Tunnel Authority, New York, Revenue            
  Refunding Bonds, 5%, 11/15/32 (c)   9,404     8,548,920  
  Total Municipal Bonds Transferred to            
  Tender Option Bond Trusts - 19.4%         13,837,529  
  Total Long-Term Investments (Cost - $136,757,273) - 165.5%         117,913,635  
  Short-Term Securities   Shares        
  CMA New York Municipal Money Fund, 0.69% (n)(o)   3,004,877     3,004,877  
  Total Short-Term Securities (Cost - $3,004,877) - 4.2%         3,004,877  
  Total Investments (Cost - $139,762,150*) - 169.7%         120,918,512  
  Other Assets Less Liabilities - 3.5%         2,479,758  
  Liability for Trust Certificates, Including Interest            
  Expense and Fees Payable - (14.7)%         (10,464,482 )
  Preferred Shares, at Redemption Value - (58.5)%         (41,693,250 )
  Net Assets Applicable to Common Shares - 100.0%       $ 71,240,538  

3

BlackRock New York Insured Municipal Income Trust
Schedule of Investments November 30, 2008 (Unaudited)
*     

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2008, as computed for federal income tax purposes, were as follows:
  Aggregate cost   $ 129,140,698    
  Gross unrealized appreciation   $ 354,854    
  Gross unrealized depreciation     (18,902,666 )  
  Net unrealized depreciation   $ (18,547,812 )  

(a)     

FGIC Insured.
(b)     

FSA Insured.
(c)     

MBIA Insured.
(d)     

AMBAC Insured.
(e)     

Security made 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.
(f)     

Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.
(g)     

ACA Insured.
(h)     

FHA Insured.
(i)     

XL Capital Insured.
(j)     

U.S. government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.
(k)     

Assured Guaranty Insured.
(l)     

Commonwealth Guaranteed.
(m)     

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing operation.
(n)     

Represents the current yield as of report date.
(o)     

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
  Affiliate Activity     Income
  CMA New York Municipal Money Fund 3,004,577   $        6,985

4

BlackRock New York Insured Municipal Income Trust
Schedule of Investments November 30, 2008 (Unaudited)

  • Effective September 1, 2008, the Trust 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 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 Trust'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 Trust's policy regarding valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its annual report.
     
      The following table summarizes the inputs used as of November 30, 2008 in determining the fair valuation of the Trust's investments:
      Valuation     Investments in
      Inputs     Securities
      Level 1   $ 3,004,877
      Level 2     117,913,635
      Level 3     -
      Total   $ 120,918,512

    5

    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 New York Insured Municipal Income Trust
     
    By: /s/ Donald C. Burke  
      Donald C. Burke
      Chief Executive Officer of
      BlackRock New York Insured Municipal Income Trust
     
    Date: January 20, 2009

    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 New York Insured Municipal Income Trust
     
    Date: January 20, 2009
     
    By: /s/ Neal J. Andrews  
      Neal J. Andrews
      Chief Financial Officer (principal financial officer) of
      BlackRock New York Insured Municipal Income Trust
     
    Date: January 20, 2009