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:__811-07094______

_______BlackRock New York Insured Municipal 2008 Term Trust, Inc._______
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE
19809
(Address of principal executive offices)
(Zip code)

Robert S. Kapito, President

BlackRock New York Insured Municipal 2008 Term Trust, Inc.

      40 East 52nd Street, New York, NY 10022      
(Name and address of agent for service)


Registrant’s telephone number, including area code:_888-825-2257__________________

Date of fiscal year end:___December 31, 2006
Date of reporting period:__September 30, 2006

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:


PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2006

BlackRock New York Insured Municipal 2008 Term Trust (BLN)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          LONG-TERM INVESTMENTS—98.7%        
            New York—98.7%        
    AAA   $ 1,000   Bath Central Sch. Dist. GO, 4.00%, 6/15/08, FGIC   No Opt. Call   $ 1,009,120  
    AAA   2,250   Central Square Central Sch. Dist. GO, 3.75%, 5/15/09, FGIC   No Opt. Call   2,266,672  
            Dorm. Auth. RB,        
    AAA   3,500       Bronx-Lebanon Hosp. Ctr. Proj., 5.00%, 2/15/10, MBIA   02/08 @ 101.5   3,619,735  
    AAA   5,000       Bronx-Lebanon Hosp. Ctr. Proj., 5.125%, 2/15/09, ACA, FSA   02/08 @ 101.5   5,134,500  
    AAA   1,600       St. Univ. Edl. Facs. Proj., Ser. A, 5.50%, 5/15/07, FGIC   No Opt. Call   1,619,584  
    AAA   2,500       St. Univ. Edl. Facs. Proj., Ser. A, 5.50%, 5/15/08, AMBAC   No Opt. Call   2,578,500  
    AAA   5,000       St. Univ. Edl. Facs. Proj., Ser. A, 5.50%, 5/15/08, FGIC   No Opt. Call   5,158,550  
    AAA   6,000       St. Univ. Edl. Facs. Proj., Ser. A, 5.50%, 5/15/08, CONNIE LEE   No Opt. Call   6,190,260  
    AAA   5,000       St. Univ. Edl. Facs. Proj., Ser. A, 5.50%, 5/15/09, AMBAC   No Opt. Call   5,247,500  
    AAA   500       W.K. Nursing Home Corp. Proj., 5.65%, 8/01/09   10/06 @ 102   513,570  
    AAA   1,000       Winthrop Univ. Hosp. Assoc. Proj., Ser. A, 4.125%, 7/01/08, AMBAC   No Opt. Call   1,008,910  
    AAA   1,960   East Greenbush Central Sch. Dist. GO, Ser. C, 4.00%, 6/15/09, FSA   No Opt. Call   1,987,460  
    AAA   6,000   Env. Facs. Corp. RB, Mun. Wtr. Proj., 4.00%, 6/15/09   No Opt. Call   6,084,060  
    AAA   1,000   Erie Cnty. Pub. Impvt. GO, Ser. A, 3.75%, 10/01/08, FGIC   No Opt. Call   1,005,920  
    AAA   1,185   Evans-Brant Central Sch. Dist. GO, Ser. C, 3.75%, 12/15/08, FGIC   No Opt. Call   1,192,667  
            Fayetteville-Manlius Central Sch. Dist. GO,        
    AAA   1,125       3.75%, 6/15/09, FGIC   No Opt. Call   1,133,584  
    AAA   1,000       4.00%, 6/15/08, FGIC   No Opt. Call   1,009,120  
            Hsg. Fin. Agcy. RB,        
    AAA   1,305       Hsg. Mtg. Proj., Ser. A, 5.80%, 5/01/09, FSA   10/06 @ 102   1,331,361  
    AAA   4,015       Hsg. Mtg. Proj., Ser. A, 5.80%, 11/01/09, FSA   10/06 @ 102   4,099,917  
    AAA   165       Multi-Fam. Mtg. Hsg. Proj., Ser. C, 6.30%, 8/15/08   10/06 @ 100   165,498  
    AAA   12,500   Long Island Pwr. Auth. Elec. Sys. RB, 5.00%, 4/01/08, MBIA   No Opt. Call   12,766,500  
            Met. Transp. Auth. RB,        
    AAA   2,500 3          Ser. A, 6.10%, 7/01/08, MBIA   ETM   2,611,325  
    AAA   26,075 3          Ser. K, 6.00%, 7/01/08, MBIA   ETM   27,192,574  
            Monroe Cnty. Pub. Impvt. GO,        
    AAA   455 3     4.00%, 3/01/09, FGIC   ETM   460,515  
    AAA   770       4.00%, 3/01/09, FGIC   No Opt. Call   777,908  
            Mt. Sinai Union Free Sch. Dist. GO,        
    AAA   935       6.00%, 2/15/08, AMBAC   No Opt. Call   966,584  
    AAA   930       6.10%, 2/15/09, AMBAC   No Opt. Call   985,437  
    AAA   1,075       6.10%, 2/15/10, AMBAC   No Opt. Call   1,163,978  
            New York City GO,        
    AAA   2,455 4     4.75%, 8/15/08, XLCA   N/A   2,535,524  
    AAA   2,265       4.75%, 8/15/09, XLCA   08/08 @ 101   2,332,656  
    AAA   1,000       Ser. A, 5.20%, 8/01/10, FSA   08/08 @ 101   1,038,780  
    AAA   45       Ser. C-1, 6.25%, 8/01/10, FSA   10/06 @ 100   45,047  
    AAA   50       Ser. C-1, 6.375%, 8/01/08, MBIA   10/06 @ 100   50,055  
    AAA   2,000 3     Ser. E, 6.20%, 8/01/08, MBIA   ETM   2,096,720  
    AAA   4,895       Ser. E, 6.20%, 8/01/08, MBIA   No Opt. Call   5,127,268  
            New York City Hlth. & Hosp. Corp. RB,        
    AAA   2,810       Ser. A, 3.75%, 2/15/09, FSA   No Opt. Call   2,820,004  
    AAA   2,000       Ser. A, 5.00%, 2/15/08, AMBAC   No Opt. Call   2,038,460  
            New York City Mun. Wtr. Fin. Auth. RB,        
    AAA   11,500       Ser. A, Zero Coupon, 6/15/09, MBIA   No Opt. Call   10,403,475  
    AAA   1,710 3     Ser. A, 6.00%, 6/15/08, FGIC   ETM   1,781,478  
            New York City Transl. Fin. Auth. RB,        
    AAA   2,605 3     4.00%, 5/01/09, MBIA   ETM   2,638,683  
    AAA   1,395       4.00%, 5/01/09, MBIA   No Opt. Call   1,412,005  
    AAA   7,800 3     Ser. B, 5.25%, 5/01/11, MBIA   ETM   8,368,776  
    AAA   1,000   New York St. GO, Ser. F, 5.50%, 9/15/08, AMBAC   No Opt. Call   1,037,500  
    AAA   250 3 Pwr. Auth. RB, Ser. CC, 5.125%, 1/01/11, MBIA   ETM   265,770  
    AAA   1,030   Sodus Central Sch. Dist. GO, 4.00%, 6/15/09, FGIC   No Opt. Call   1,044,430  
    AAA   5,000   Suffolk Cnty. Ind. Dev. Agcy. RB, 6.00%, 2/01/08, FGIC   No Opt. Call   5,157,550  
    AAA   1,675 3 Suffolk Cnty. Wtr. Auth. RB, Ser. C, 5.75%, 6/01/08, AMBAC   ETM   1,735,400  

1

BlackRock New York Insured Municipal 2008 Term Trust (BLN) (continued)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          New York-(cont’d)        
            Thruway Auth. RB,        
    AAA   $ 2,000       Hwy. & Brdg. Trust Fund Proj., Ser. A, 3.90%, 4/01/09, FSA   No Opt. Call   $2,018,920  
    AAA   2,000       Hwy. & Brdg. Trust Fund Proj., Ser. B, 4.00%, 4/01/09, MBIA   No Opt. Call   2,023,660  
    AAA   2,900       Hwy. & Brdg. Trust Fund Proj., Ser. B, 5.25%, 4/01/11, MBIA   No Opt. Call   3,103,029  
    AAA   3,410       Local Hwy. & Brdg. Proj., Ser. A, 5.375%, 4/01/09, MBIA   04/08 @ 101   3,534,022  
    AAA   2,265 3      Triborough Brdg. & Tunl. Auth. RB, Ser. A, 5.125%, 1/01/11, MBIA   ETM   2,365,022  
            Urban Dev. Corp. Correctional Facs. RB,        
    AAA   2,000       Ser. A, 5.50%, 1/01/09, AMBAC   No Opt. Call   2,085,840  
    AAA   5,140       Ser. B, 5.25%, 1/01/10, AMBAC   01/09 @ 101   5,375,052  
            Total Long-Term Investments (cost $166,458,076)       171,716,435  
            SHORT-TERM INVESTMENTS—13.2%        
            Nebraska—3.2%        
    A-1+   5,600 5 American Pub. Energy Agcy. Gas Sply. RB, Ser. A, 3.75%, 10/05/06, FRWD   N/A   5,600,000  
       
Shares
           
       
(000)
           
            Money Market Funds—10.0%        
    NR   8,700   AIM Tax Free Cash Reserve Portfolio   N/A   8,700,000  
    NR   8,700   SSgA Tax Free Money Mkt. Fund   N/A   8,700,000  
                    17,400,000  
            Total Short-Term Investments (cost $23,000,000)       23,000,000  
            Total Investments—111.9% (cost $189,458,0766)       $194,716,435  
            Other assets in excess of liabilities (including $44,487,128)—26.5%       46,195,360  
            Preferred shares at redemption value, including dividends payable—(38.4)%       (66,832,934)  
            Net Assets Applicable to Common Shareholders—100%       $174,078,861  

1   Using the highest of Standard & Poor’s, Moody’s Investors Services or Fitch’s ratings.  
2   Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.  
3   Security is collateralized by Municipal or U.S. Treasury obligations.  
4   This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.  
5   For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of September 30, 2006.  
6   Cost for Federal income tax purposes is $188,876,507. The net unrealized appreciation on a tax basis is $5,839,928, consisting of $5,842,572 gross unrealized appreciation and $2,644 gross unrealized depreciation.  
 
    The value (market value plus accrued interest) of securities that are covered by insurance, which ensures the payment of principal and interest, represent approximately 94.9% of the Trust’s managed assets.  
 

ACA — 2.1%
AMBAC —   10.2%
Cash — 18.4%
CONNIE LEE   — 2.6%
FGIC — 9.9%
FSA — 5.6%
MBIA — 36.9%
XLCA — 2.0%
Other  
7.2%

KEY TO ABBREVIATIONS
ACA — American Capital Access   FSA — Financial Security Assurance
AMBAC — American Municipal Bond Assurance Corp.   GO — General Obligation
CONNIE LEE — College Construction Loan Insurance Assoc.   MBIA — Municipal Bond Insurance Assoc.
ETM — Escrowed to Maturity   RB — Revenue Bond
FGIC — Financial Guaranty Insurance Co.   XLCA — XL Capital Assurance
FRWD — Floating Rate Weekly Demand      

2

Item 2. Controls and Procedures.

(a) The Registrant’s principal executive and principal financial officers have evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(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.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

 

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)___BlackRock New York Insured Municipal 2008 Term Trust, Inc.___

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 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: /s/ Robert S. Kapito
_____________________________________________________________________
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: November 29, 2006

By: /s/ Donald C. Burke
_____________________________________________________________________
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: November 29, 2006