Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-21211         

        Nuveen Insured New York Tax-Free Advantage Municipal Fund         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            9/30          

Date of reporting period:         6/30/06         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

                           Portfolio of Investments (Unaudited)             
                           Nuveen Insured New York Tax-Free Advantage Municipal Fund (NRK)             
                           June 30, 2006             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Staples – 3.8% (2.5% of Total Investments)             
$          1,500    New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003,    6/13 at 100.00    BBB   $   1,557,510 
     5.750%, 6/01/33             
350    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    355,610 
     Series 2002, 5.375%, 5/15/33             
1,850    Total Consumer Staples            1,913,120 
    Education and Civic Organizations – 17.9% (11.8% of Total Investments)             
2,000    Dormitory Authority of the State of New York, Insured Revenue Bonds, Long Island University,    9/12 at 100.00    AA    2,026,880 
     Series 2003A, 5.000%, 9/01/32 – RAAI Insured             
2,000    Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of    No Opt. Call    AAA    2,114,760 
     Medicine, Series 1994A, 5.150%, 7/01/24 – MBIA Insured             
1,000    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory    7/32 at 100.00    AAA    1,065,320 
     Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) – XLCA Insured             
1,000    Dormitory Authority of the State of New York, Revenue Bonds, Mount St. Mary College, Series    7/13 at 100.00    AA    1,010,890 
     2003, 5.000%, 7/01/32 – RAAI Insured             
2,500    Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of    7/12 at 100.00    Aaa    2,635,975 
     Technology, Series 2002A, 5.250%, 7/01/22 – AMBAC Insured             
    Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of             
    Technology, Series 2006A:             
100     5.250%, 7/01/20 – AMBAC Insured    No Opt. Call    Aaa    108,543 
80     5.250%, 7/01/21 – AMBAC Insured    No Opt. Call    Aaa    86,814 
8,680    Total Education and Civic Organizations            9,049,182 
    Health Care – 23.0% (15.1% of Total Investments)             
2,000    Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,    2/13 at 100.00    AAA    2,035,260 
     Lutheran Medical Center, Series 2003, 5.000%, 8/01/31 – MBIA Insured             
3,000    Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, St.    8/12 at 100.00    AAA    3,049,410 
     Barnabas Hospital, Series 2002A, 5.000%, 2/01/31 – AMBAC Insured             
1,000    Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical    2/15 at 100.00    AAA    1,028,430 
     Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured             
25    Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer    7/13 at 100.00    AAA    25,827 
     Center, Series 2003-1, 5.000%, 7/01/21 – MBIA Insured             
825    Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian    8/14 at 100.00    AAA    874,913 
     Hospital, Series 2004A, 5.250%, 8/15/15 – FSA Insured             
500    Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish    5/13 at 100.00    A3    519,060 
     Group, Series 2003, 5.375%, 5/01/23             
750    Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities    7/13 at 100.00    Baa1    775,057 
     Hospital, Series 2003B, 5.500%, 7/01/23             
500    New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series    2/12 at 100.00    AAA    532,625 
     2002A, 5.500%, 2/15/17 – FSA Insured             
2,640    New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series    2/13 at 100.00    AAA    2,776,910 
     2003A, 5.250%, 2/15/21 – AMBAC Insured             
11,240    Total Health Care            11,617,492 
    Long-Term Care – 2.4% (1.6% of Total Investments)             
1,185    Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds,    2/13 at 102.00    AAA    1,223,797 
     Shorefront Jewish Geriatric Center Inc., Series 2002, 5.200%, 2/01/32             
    Tax Obligation/General – 8.8% (5.8% of Total Investments)             
2,310    New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25 –    8/08 at 101.00    AAA    2,366,826 
     MBIA Insured             
250    New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/19 –    11/14 at 100.00    AAA    260,005 
     FSA Insured             
225    New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 –    8/15 at 100.00    AAA    236,596 
     FSA Insured             
1,500    New York City, New York, General Obligation Bonds, Fiscal Series 2006F-1, 5.000%, 9/01/19 –    9/15 at 100.00    AAA    1,559,745 
     XLCA Insured             
4,285    Total Tax Obligation/General            4,423,172 
    Tax Obligation/Limited – 42.8% (28.2% of Total Investments)             
2,695    Buffalo Fiscal Stability Authority, New York, Sales Tax Revenue State Aid Secured Bonds,    No Opt. Call    AAA    2,874,460 
     Series 2004A, 5.250%, 8/15/12 – MBIA Insured             
145    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    8/09 at 101.00    AAA    150,340 
     Services Facilities, Series 1999D, 5.250%, 2/15/29 – FSA Insured             
3,000    Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing    10/12 at 100.00    AAA    3,163,860 
     Program, Series 2002D, 5.250%, 10/01/23 – MBIA Insured             
715    Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2006,    11/16 at 100.00    AAA    733,304 
     5.000%, 11/15/31 – MBIA Insured             
1,000    Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,    7/12 at 100.00    AAA    1,022,880 
     Series 2002A, 5.000%, 7/01/25 – FGIC Insured             
560    Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003,    1/13 at 102.00    BBB    577,830 
     5.500%, 1/01/34             
    New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local             
    Government Assistance Corporation, Series 2004A:             
610     5.000%, 10/15/25 – MBIA Insured    10/14 at 100.00    AAA    629,807 
555     5.000%, 10/15/26 – MBIA Insured    10/14 at 100.00    AAA    572,244 
3,000    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal    8/12 at 100.00    AAA    3,174,930 
     Series 2003C, 5.250%, 8/01/18 – AMBAC Insured             
2,000    New York City Transitional Finance Authority, New York, Future Tax Secured Refunding Bonds,    2/13 at 100.00    AAA    2,061,320 
     Fiscal Series 2003D, 5.000%, 2/01/22 – MBIA Insured             
1,290    New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds,    1/13 at 100.00    AAA    1,324,546 
     Series 2002A, 5.000%, 1/01/23 – FGIC Insured             
950    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second Generation,    No Opt. Call    AAA    1,056,381 
     Series 2005B, 5.500%, 4/01/20 – AMBAC Insured             
1,200    New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and    6/13 at 100.00    AAA    1,260,672 
     State Contingency Contract-Backed Bonds, Series 2003A-1, 5.250%, 6/01/20 – AMBAC Insured             
750    New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and    6/13 at 100.00    AA–    795,743 
     State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21             
100    New York State Urban Development Corporation, Revenue Refunding Bonds, Correctional Capital    1/08 at 102.00    AAA    102,892 
     Facilities, Series 1998, 5.000%, 1/01/20 – MBIA Insured             
2,000    New York State Urban Development Corporation, Service Contract Revenue Bonds, Correctional and    1/17 at 100.00    AA–    2,116,160 
     Youth Facilities, Series 2002A, 5.500%, 1/01/17 (Mandatory put 1/01/11)             
20,570    Total Tax Obligation/Limited            21,617,369 
    Transportation – 8.2% (5.4% of Total Investments)             
1,000    Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,    11/12 at 100.00    AAA    1,024,050 
     Series 2002A, 5.000%, 11/15/25 – FGIC Insured             
3,030    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred    11/12 at 101.00    AAA    3,138,413 
     Twenty-Eighth Series 2002, 5.000%, 11/01/22 – FSA Insured             
4,030    Total Transportation            4,162,463 
    U.S. Guaranteed – 25.2% (16.6% of Total Investments) (4)             
395    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory    7/09 at 101.00    AAA    413,190 
     Facilities, Series 1999B, 5.125%, 7/01/28 (Pre-refunded 7/01/09) – MBIA Insured             
2,500    Dormitory Authority of the State of New York, Revenue Bonds, State Personal Income Tax, Series    3/13 at 100.00    AAA    2,646,725 
     2003A, 5.000%, 3/15/32 (Pre-refunded 3/15/13) – FGIC Insured             
100    Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 –    12/09 at 100.00    AAA    113,356 
     AMBAC Insured (ETM)             
1,000    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A,    6/08 at 101.00    AAA    1,034,420 
     5.125%, 12/01/22 (Pre-refunded 6/01/08) – FSA Insured             
90    New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25    8/08 at 101.00    AAA    93,276 
     (Pre-refunded 8/01/08) – MBIA Insured             
3,500    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2002B, 5.000%,    4/12 at 100.00    AAA    3,688,196 
     4/01/20 (Pre-refunded 4/01/12) – AMBAC Insured             
    New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State             
    Facilities and Equipment, Series 2002C-1:             
1,000     5.500%, 3/15/20 (Pre-refunded 3/15/13) – FGIC Insured    3/13 at 100.00    AAA    1,087,860 
1,000     5.500%, 3/15/21 (Pre-refunded 3/15/13) – FGIC Insured    3/13 at 100.00    AAA    1,087,860 
1,975    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 2002A,    1/12 at 100.00    AAA    2,090,261 
     5.125%, 1/01/31 (Pre-refunded 1/01/12) – MBIA Insured             
450    TSASC Inc., New York, Tobacco Flexible Amortization Bonds, Series 1999-1, 6.250%, 7/15/34    7/09 at 101.00    AAA    485,163 
     (Mandatory put 7/15/24) (Pre-refunded 7/15/09)             
12,010    Total U.S. Guaranteed            12,740,307 
    Utilities – 18.4% (12.1% of Total Investments)             
2,725    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A,    6/08 at 101.00    AAA    2,801,681 
     5.125%, 12/01/22 – FSA Insured             
    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:             
1,130     5.000%, 12/01/23 – FGIC Insured    6/16 at 100.00    AAA    1,167,912 
870     5.000%, 12/01/25 – FGIC Insured    6/16 at 100.00    AAA    896,387 
2,000    New York State Power Authority, General Revenue Bonds, Series 2002A, 5.000%, 11/15/20    11/12 at 100.00    Aa2    2,059,820 
    New York State Power Authority, General Revenue Bonds, Series 2006A:             
165     5.000%, 11/15/18 – FGIC Insured    11/15 at 100.00    AAA    172,983 
110     5.000%, 11/15/19 – FGIC Insured    11/15 at 100.00    AAA    114,978 
2,000    Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2000HH, 5.250%, 7/01/29 –    7/10 at 101.00    AAA    2,076,500 
     FSA Insured             
9,000    Total Utilities            9,290,261 
    Water and Sewer – 1.3% (0.9% of Total Investments)             
640    Niagara Falls Public Water Authority, New York, Water and Sewerage Revenue Bonds, Series 2005,    7/15 at 100.00    AAA    651,398 
     5.000%, 7/15/28 – XLCA Insured             
$      73,490    Total Investments (cost $75,464,998) – 151.8%            76,688,561 
    Other Assets Less Liabilities – 1.7%            814,993 
    Preferred Shares, at Liquidation Value – (53.5)%            (27,000,000) 
    Net Assets Applicable to Common Shares – 100%           $   50,503,554 

    At least 80% of the Fund’s net assets (including net assets attributable to Preferred shares) are 
    invested in municipal securities that are either covered by Original Issue Insurance, Secondary 
    Market Insurance or Portfolio Insurance which ensures the timely payment of principal and interest. 
    Up to 20% of the Fund’s net assets (including net assets attributable to Preferred shares) may be 
    invested in municipal securities that are (i) backed by an escrow or trust containing sufficient U.S. 
    Government or U.S. Government agency securities (also ensuring the timely payment of principal 
    and interest), or (ii) rated, at the time of investment, within the four highest grades (Baa or BBB or 
    better by Moody’s, S&P or Fitch) or unrated but judged to be of comparable quality by the Adviser. 
(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to 
    Common shares unless otherwise noted. 
(2)    Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or 
    redemption. There may be other call provisions at varying prices at later dates. Certain 
    mortgage-backed securities may be subject to periodic principal paydowns. 
(3)    Ratings: Using the higher of Standard & Poor's or Moody's rating. Ratings below BBB by Standard & 
    Poor's Group or Baa by Moody's Investor Service, Inc. are considered to be below investment grade. 
(4)    Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
    securities which ensure the timely payment of principal and interest. 
(ETM)    Escrowed to maturity. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing taxable market discount and timing differences in recognizing certain gains and losses on investment transactions.

At June 30, 2006, the cost of investments was $75,628,979.

Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2006, were as follows:

Gross unrealized:     
  Appreciation    $1,533,846 
  Depreciation    (474,264) 
Net unrealized appreciation (depreciation) of investments    $1,059,582 

Item 2. Controls and Procedures.

  1. 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") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. 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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


SIGNATURES

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.

(Registrant)         Nuveen Insured New York Tax-Free Advantage Municipal Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger                     
                                                    Jessica R. Droeger
                                                    Vice President and Secretary

Date         August 28, 2006        

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 (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         August 28, 2006        

By (Signature and Title)*         /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                   Vice President and Controller (principal financial officer) 

Date        August 28, 2006        

* Print the name and title of each signing officer under his or her signature.