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:            09/30          

Date of reporting period:         12/31/06         

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)             
    December 31, 2006             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Staples – 3.7% (2.4% of Total Investments)             
$          1,500    New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003,    6/13 at 100.00    BBB   $   1,597,155 
     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    366,849 
     Series 2002, 5.375%, 5/15/33             
1,850    Total Consumer Staples            1,964,004 
    Education and Civic Organizations – 25.8% (16.7% of Total Investments)             
2,000    Dormitory Authority of the State of New York, Insured Revenue Bonds, Long Island University,    9/12 at 100.00    AA    2,083,480 
     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    2,228,840 
     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    AAA    1,084,980 
     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    1,043,100 
     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    2,682,400 
     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    113,674 
80     5.250%, 7/01/21 – AMBAC Insured    No Opt. Call    Aaa    91,258 
    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball             
    Stadium Project, Series 2006:             
625     5.000%, 1/01/36 – AMBAC Insured    1/17 at 100.00    AAA    667,875 
1,715     5.000%, 1/01/39 – AMBAC Insured (UB)    1/17 at 100.00    AAA    1,832,649 
    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    AAA    181,756 
225     5.000%, 3/01/36 – MBIA Insured    9/16 at 100.00    AAA    240,003 
1,205     5.000%, 3/01/36 – MBIA Insured (UB)    9/16 at 100.00    AAA    1,285,349 
12,620    Total Education and Civic Organizations            13,535,364 
    Health Care – 22.8% (14.8% 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    2,109,280 
     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    3,159,569 
     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    1,061,750 
     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    26,737 
     Center, Series 2003-1, 5.000%, 7/01/21 – MBIA Insured             
820    Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian    8/14 at 100.00    AAA    895,957 
     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    532,510 
     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    797,543 
     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    541,785 
     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    2,828,021 
     2003A, 5.250%, 2/15/21 – AMBAC Insured             
11,235    Total Health Care            11,953,152 
    Long-Term Care – 3.0% (2.0% 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    1,269,953 
     Shorefront Jewish Geriatric Center Inc., Series 2002, 5.200%, 2/01/32             
300    Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of    2/17 at 103.00    AA    327,834 
     Westchester Project, Series 2006, 5.200%, 2/15/41             
1,485    Total Long-Term Care            1,597,787 
    Tax Obligation/General – 7.5% (4.9% of Total Investments)             
    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, 2006A:             
840     4.500%, 2/15/47 – MBIA Insured (UB)    2/17 at 100.00    AAA    838,413 
200     5.000%, 2/15/47 – FGIC Insured (UB)    2/17 at 100.00    AAA    212,977 
2,310    New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25 – MBIA    8/08 at 101.00    AAA    2,377,729 
     Insured             
250    New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/19 – FSA    11/14 at 100.00    AAA    268,408 
     Insured             
225    New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 – FSA    8/15 at 100.00    AAA    243,986 
     Insured             
3,825    Total Tax Obligation/General            3,941,513 
    Tax Obligation/Limited – 41.9% (27.2% of Total Investments)             
2,695    Buffalo Fiscal Stability Authority, New York, Sales Tax Revenue State Aid Secured Bonds,    No Opt. Call    AAA    2,913,187 
     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    151,518 
     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    3,227,609 
     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    765,901 
     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    1,056,060 
     Series 2002A, 5.000%, 7/01/25 – FGIC Insured             
560    Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003, 5.500%,    1/13 at 102.00    BBB    588,650 
     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    650,260 
555     5.000%, 10/15/26 – MBIA Insured    10/14 at 100.00    AAA    590,864 
3,000    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal    8/12 at 100.00    AAA    3,228,809 
     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    2,109,280 
     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    1,362,498 
     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    1,104,499 
     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    1,290,156 
     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-    816,458 
     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    103,244 
     Facilities, Series 1998, 5.000%, 1/01/20 – MBIA Insured             
1,860    New York State Urban Development Corporation, Service Contract Revenue Bonds, Correctional and    No Opt. Call    AA-    1,978,947 
     Youth Facilities, Series 2002A, 5.500%, 1/01/17 (Mandatory put 1/01/11)             
20,430    Total Tax Obligation/Limited            21,937,940 
    Transportation – 8.2% (5.3% of Total Investments)             
1,000    Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,    11/12 at 100.00    AAA    1,059,400 
     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    3,221,677 
     Twenty-Eighth Series 2002, 5.000%, 11/01/22 – FSA Insured             
4,030    Total Transportation            4,281,077 
    U.S. Guaranteed – 27.1% (17.5% 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    413,648 
     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    2,688,075 
     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 –    No Opt. Call    AAA    114,185 
     AMBAC Insured (ETM)             
    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A:             
1,000     5.125%, 12/01/22 (Pre-refunded 6/01/08) – FSA Insured    6/08 at 101.00    AAA    1,031,920 
2,725     5.125%, 12/01/22 (Pre-refunded 6/01/08) – FSA Insured    6/08 at 101.00    AAA    2,811,982 
90    New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25    8/08 at 101.00    AAA    93,083 
     (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    3,733,414 
     4/01/20 (Pre-refunded 4/01/12) – AMBAC Insured             
140    New York State Urban Development Corporation, Service Contract Revenue Bonds, Correctional and    1/11 at 100.00    AA– (4)    149,867 
     Youth Facilities, Series 2002A, 5.500%, 1/01/17 (Pre-refunded 1/01/11)             
500    New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State    3/13 at 100.00    AAA    551,400 
     Facilities and Equipment, Series 2002C-1, 5.500%, 3/15/21 (Pre-refunded 3/15/13) – FGIC Insured             
1,975    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 2002A,    1/12 at 100.00    AAA    2,112,302 
     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    483,134 
     (Mandatory put 7/15/24) (Pre-refunded 7/15/09)             
13,375    Total U.S. Guaranteed            14,183,010 
    Utilities – 12.7% (8.3% 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    AAA    1,210,151 
870     5.000%, 12/01/25 – FGIC Insured    6/16 at 100.00    AAA    930,308 
2,000    New York State Power Authority, General Revenue Bonds, Series 2002A, 5.000%, 11/15/20    11/12 at 100.00    Aa2    2,130,160 
    New York State Power Authority, General Revenue Bonds, Series 2006A:             
165     5.000%, 11/15/18 – FGIC Insured    11/15 at 100.00    AAA    178,708 
110     5.000%, 11/15/19 – FGIC Insured    11/15 at 100.00    AAA    118,796 
2,000    Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2000HH, 5.250%, 7/01/29 –    7/10 at 101.00    AAA    2,112,540 
     FSA Insured             
6,275    Total Utilities            6,680,663 
    Water and Sewer – 1.3% (0.8% of Total Investments)             
640    Niagara Falls Public Water Authority, New York, Water and Sewerage Revenue Bonds, Series 2005,    7/15 at 100.00    AAA    676,666 
     5.000%, 7/15/28 – XLCA Insured             
$        75,765    Total Long-Term Investments (cost $77,685,197) – 154.0%            80,751,176 
    Short-Term Investments – 0.2% (0.1% of Total Investments)             
100    New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue        A-1+    100,000 
     Bonds, Variable Rate Demand Obligations, Fiscal Series 1993C, 3.880%, 6/15/22 –             
     FGIC Insured (5)             
$             100    Total Short-Term Investments (cost $100,000)            100,000 
    Total Investments (cost $77,785,197) – 154.2%            80,851,176 
    Floating Rate Obligations – (5.2%)            (2,730,000) 
    Other Assets Less Liabilities – 2.5%            1,310,728 
    Preferred Shares, at Liquidation Value – (51.5)%            (27,000,000) 
    Net Assets Applicable to Common Shares – 100%           $   52,431,904 

    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) either 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. Such investments are normally 
    considered to be equivalent to AAA rated securities. 
(5)    Investment has a maturity of more than one year, but has variable rate and demand features which 
    qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting 
    period. This rate changes periodically based on market conditions or a specified market index. 
(ETM)    Escrowed to maturity. 
(UB)    Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the 
    provisions of SFAS No. 140. 

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, 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.

At December 31, 2006, the cost of investments was $75,185,902.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2006, were as follows:

Gross unrealized:     
  Appreciation    $3,076,487 
  Depreciation    (129,141) 
Net unrealized appreciation (depreciation) of investments    $2,947,346 

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         March 1, 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 (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         March 1, 2007        

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

Date        March 1, 2007        

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