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)

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


Kevin J. McCarthy 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:            09/30          

Date of reporting period:         12/31/08         

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)             
    December 31, 2008             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Staples – 2.9% (1.8% of Total Investments)             
$        1,500    New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003,    6/13 at 100.00    BBB   $   1,108,470 
     5.750%, 6/01/33             
325    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    219,963 
     Series 2002, 5.375%, 5/15/33             
1,825    Total Consumer Staples            1,328,433 
    Education and Civic Organizations – 22.1% (13.7% of Total Investments)             
2,000    Dormitory Authority of the State of New York, Insured Revenue Bonds, Long Island University,    9/12 at 100.00    A3    1,466,460 
     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    AA    1,892,500 
     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    No Opt. Call    AA–    1,005,960 
     Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) – SYNCORA GTY Insured             
410    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory    7/16 at 100.00    AA    368,360 
     Facilities, Series 2006A, 5.000%, 7/01/31 – MBIA Insured             
1,000    Dormitory Authority of the State of New York, Revenue Bonds, Mount St. Mary College, Series    7/13 at 100.00    BBB+    781,040 
     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    A1    2,521,425 
     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    A1    106,722 
80     5.250%, 7/01/21 – AMBAC Insured    No Opt. Call    A1    84,278 
225    Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate    7/15 at 100.00    AAA    192,929 
     University, Tender Option Bond Trust 3127, 10.840%, 7/01/40 – AMBAC Insured (IF)             
    New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium             
    Project, Series 2006:             
170     5.000%, 3/01/31 – FGIC Insured    9/16 at 100.00    BBB–    123,600 
1,425     5.000%, 3/01/36 – MBIA Insured    9/16 at 100.00    AA    998,512 
840     4.500%, 3/01/39 – FGIC Insured    9/16 at 100.00    BBB–    510,863 
11,750    Total Education and Civic Organizations            10,052,649 
    Health Care – 22.8% (14.1% of Total Investments)             
2,000    Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,    2/13 at 100.00    AA    1,705,980 
     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    A    2,563,560 
     Barnabas Hospital, Series 2002A, 5.000%, 2/01/31 – AMBAC Insured             
345    Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson    8/17 at 100.00    AAA    326,187 
     Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – FSA Insured             
1,000    Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical    2/15 at 100.00    AA    939,790 
     Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured             
255    Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc., Series    7/17 at 100.00    AAA    220,368 
     2007B, 5.125%, 7/01/37 – AGC Insured             
25    Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer    7/13 at 100.00    AA    25,120 
     Center, Series 2003-1, 5.000%, 7/01/21 – MBIA Insured             
810    Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian    8/14 at 100.00    AAA    874,152 
     Hospital, Series 2004A, 5.250%, 8/15/15 – FSA Insured             
750    Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities    7/13 at 100.00    Baa1    609,337 
     Hospital, Series 2003B, 5.500%, 7/01/23             
305    Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian    8/14 at 100.00    AAA    268,165 
     Hospital Project, Series 2007, 5.000%, 8/15/36 – FSA Insured             
500    New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series    2/12 at 100.00    AAA    524,330 
     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    A1    2,285,870 
     2003A, 5.250%, 2/15/21 – AMBAC Insured             
11,630    Total Health Care            10,342,859 
    Long-Term Care – 0.6% (0.3% of Total Investments)             
300    Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of    2/17 at 103.00    AA    265,155 
     Westchester Project, Series 2006, 5.200%, 2/15/41             
    Tax Obligation/General – 8.6% (5.3% of Total Investments)             
2,055    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,    2/17 at 100.00    A    1,471,277 
     2/15/47 – FGIC Insured             
2,155    New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25 –    2/09 at 101.00    AA    2,078,605 
     MBIA Insured             
225    New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 –    8/15 at 100.00    AAA    246,751 
     FSA Insured             
85    New York City, New York, General Obligation Bonds, Tender Option Bond Trust 1198, 10.750%,    11/14 at 100.00    AAA    88,174 
     11/01/19 – FSA Insured (IF)             
4,520    Total Tax Obligation/General            3,884,807 
    Tax Obligation/Limited – 48.8% (30.2% of Total Investments)             
2,695    Buffalo Fiscal Stability Authority, New York, Sales Tax Revenue State Aid Secured Bonds,    No Opt. Call    AA    2,938,817 
     Series 2004A, 5.250%, 8/15/12 – MBIA Insured             
3,000    Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing    10/12 at 100.00    AA    3,018,990 
     Program, Series 2002D, 5.250%, 10/01/23 – MBIA Insured             
340    Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo    5/18 at 100.00    AAA    347,854 
     City School District: 5.750%, 5/01/27 – FSA Insured (UB)             
1,085    Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo    5/17 at 100.00    AAA    1,104,302 
     City School District Project, Series 2007A, 5.750%, 5/01/28 – FSA Insured (UB)             
1,000    Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,    7/12 at 100.00    AA    932,870 
     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    351,590 
     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 (UB)    10/14 at 100.00    AAA    611,836 
555     5.000%, 10/15/26 – MBIA Insured (UB)    10/14 at 100.00    AAA    556,343 
740    New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal    1/17 at 100.00    AA    713,567 
     Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured             
3,000    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal    8/12 at 100.00    AAA    3,182,550 
     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    2,024,420 
     Fiscal Series 2003D, 5.000%, 2/01/22 – MBIA Insured             
305    New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option    11/15 at 100.00    AAA    250,579 
     Bond Trust 3126, 10.829%, 11/15/44 – AMBAC Insured (IF)             
1,290    New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds,    1/13 at 100.00    AAA    1,302,565 
     Series 2002A, 5.000%, 1/01/23 – FGIC Insured             
950    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series    No Opt. Call    AA    1,037,733 
     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    AA–    1,169,796 
     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–    738,053 
     State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21             
1,860    New York State Urban Development Corporation, Service Contract Revenue Bonds, Correctional and    No Opt. Call    AA–    1,894,838 
     Youth Facilities, Series 2002A, 5.500%, 1/01/17 (Mandatory put 1/01/11)             
21,940    Total Tax Obligation/Limited            22,176,703 
    Transportation – 6.9% (4.2% of Total Investments)             
1,000    Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,    11/12 at 100.00    AA    931,890 
     Series 2002A, 5.000%, 11/15/25 – FGIC Insured             
1,875    New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/20 –    1/15 at 100.00    A+    1,926,788 
     AMBAC Insured             
140    New York State Thruway Authority, General Revenue Bonds, Series 2007H, 5.000%, 1/01/25 –    1/18 at 100.00    AA    136,391 
     FGIC Insured             
170    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty    8/17 at 100.00    AAA    130,019 
     Eighth Series 2008, Trust 2920, 11.256%, 8/15/32 – FSA Insured (IF)             
3,185    Total Transportation            3,125,088 
    U.S. Guaranteed – 26.2% (16.2% of Total Investments) (4)             
1,185    Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds,    2/13 at 102.00    Aaa    1,358,591 
     Shorefront Jewish Geriatric Center Inc., Series 2002, 5.200%, 2/01/32 (Pre-refunded 2/01/13)             
145    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    8/09 at 101.00    AAA    150,654 
     Services Facilities, Series 1999D, 5.250%, 2/15/29 (Pre-refunded 8/15/09) – FSA Insured             
395    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory    7/09 at 101.00    AAA    408,023 
     Facilities, Series 1999B, 5.125%, 7/01/28 (Pre-refunded 7/01/09) – MBIA Insured             
500    Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish    5/13 at 100.00    Aaa    572,720 
     Group, Series 2003, 5.375%, 5/01/23 (Pre-refunded 5/01/13)             
100    Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 –    No Opt. Call    A (4)    113,344 
     AMBAC Insured (ETM)             
3,500    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2002B, 5.000%,    4/12 at 100.00    AAA    3,852,520 
     4/01/20 (Pre-refunded 4/01/12) – AMBAC Insured             
500    New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State    3/13 at 100.00    AAA    573,960 
     Facilities and Equipment, Series 2002C-1, 5.500%, 3/15/21 (Pre-refunded 3/15/13) – FGIC Insured             
2,000    Power Authority of the State of New York, General Revenue Bonds, Series 2002A, 5.000%,    11/12 at 100.00    Aa2 (4)    2,239,500 
     11/15/20 (Pre-refunded 11/15/12) – Insured             
1,975    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 2002A,    1/12 at 100.00    AAA    2,174,158 
     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    468,261 
     (Pre-refunded 7/15/09)             
10,750    Total U.S. Guaranteed            11,911,731 
    Utilities – 4.7% (2.9% of Total Investments)             
    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    AA    1,077,376 
870     5.000%, 12/01/25 – FGIC Insured    6/16 at 100.00    AA    810,666 
125    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,    6/16 at 100.00    A–    107,809 
     5.000%, 12/01/35 – CIFG Insured             
110    Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,    11/15 at 100.00    Aa2    114,933 
     11/15/19 – FGIC Insured             
2,235    Total Utilities            2,110,784 
    Water and Sewer – 1.0% (0.6% of Total Investments)             
495    New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue    6/16 at 100.00    Aaa    462,785 
     Bonds: 5.000%, 6/15/36 – MBIA Insured (UB)             
$       68,630    Total Long-Term Investments (cost $69,382,352) – 144.6%            65,660,994 
Principal                 
Amount (000)    Description (1)    Coupon    Maturity    Value 
    Short-Term Investments – 17.3% (10.7% of Total Investments)             
$        7,849    State Street Euro Dollar Time Deposit    0.010%    1/02/09  $  7,849,332 
    Total Short-Term Investments (cost $7,849,332)            7,849,332 
    Total Investments (cost $77,231,684) – 161.9%            73,510,326 
    Floating Rate Obligations – (5.1)%            (2,310,000)
    Other Assets Less Liabilities – 2.7%            1,207,877 
    Auction Rate Preferred Shares, at Liquidation Value – (59.5)% (5)            (27,000,000)
    Net Assets Applicable to Common Shares – 100%          $  45,408,203 

    At least 80% of the Fund’s net assets (including net assets attributable to Auction Rate Preferred shares) 
    are invested in municipal securities that are covered by insurance or backed by an escrow or trust account 
    containing sufficient U.S. Government or U.S. Government agency securities or U.S. Treasury-issued State 
    and Local Government Series securities to ensure the timely payment of principal and interest. 
(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 Group (“Standard & Poor’s”) or Moody’s Investor Service, 
    Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be 
    below investment grade. 
    The Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AGC, AMBAC, CIFG, 
    FGIC, FSA, MBIA, RAAI and SYNCORA as of December 31, 2008. Subsequent to December 31, 2008, and 
    during the period this Portfolio of Investments was prepared, there may have been reductions to the ratings 
    of certain bonds resulting from changes to the ratings of the underlying insurers both during the period and 
    after period end. Such reductions would likely reduce the effective rating of many of the bonds insured by 
    that insurer or insurers presented at period end. 
(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. Such investments are normally 
    considered to be equivalent to AAA rated securities. 
(5)    Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 36.7%. 
(ETM)    Escrowed to maturity. 
(IF)    Inverse floating rate investment. 
(UB)    Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the 
    provisions of SFAS No. 140. 

Fair Value Measurements

During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No.157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund's investments various inputs are used. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including management's assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the Fund's fair value measurements as of December 31, 2008:

    Level 1    Level 2    Level 3    Total 
Investments    $7,849,332    $65,660,994    $ —    $73,510,326 

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 timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

At December 31, 2008, the cost of investments was $74,915,916.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2008, were as follows:

Gross unrealized:     
  Appreciation    $ 1,313,004 
  Depreciation    (5,034,212)
Net unrealized appreciation (depreciation) of investments    $(3,721,208)

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: See 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/ Kevin J. McCarthy                    
                                                  Kevin J. McCarthy
                                                  Vice President and Secretary

Date         February 27, 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 (Signature and Title)         /s/ Gifford R. Zimmerman                    
                                                 Gifford R. Zimmerman
                                                 Chief Administrative Officer (principal executive officer) 

Date         February 27, 2009        

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

Date        February 27, 2009