N-Q 1 michiganinsured.txt BLACKROCK MUNIYIELD MICHIGAN INSURED 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 811-7080 Name of Fund: BlackRock MuniYield Michigan Insured Fund, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., Chief Executive Officer, BlackRock MuniYield Michigan Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 10/31/2007 Date of reporting period: 11/01/06 - 01/31/07 Item 1 - Schedule of Investments BlackRock MuniYield Michigan Insured Fund, Inc. Schedule of Investments as of January 31, 2007 (in Thousands)
Face Amount Municipal Bonds Value Michigan - 141.1% $ 2,000 Adrian, Michigan, City School District, GO, 5% due 5/01/2029 (d) $ 2,095 1,600 Adrian, Michigan, City School District, GO, 5% due 5/01/2034 (d) 1,671 1,000 Allegan, Michigan, Public School District, GO, 5.75% due 5/01/2010 (d)(e) 1,060 1,000 Ann Arbor, Michigan, Public School District, School Building and Site, GO, 5% due 5/01/2027 1,048 3,725 Bay City, Michigan, School District, School Building and Site, GO, 5% due 5/01/2031 (d) 3,937 1,000 Birmingham, Michigan, City School District, School Building and Site, GO, 5% due 11/01/2033 (d) 1,049 1,000 Central Montcalm, Michigan, Public Schools, GO, 5.90% due 5/01/2009 (b)(e) 1,046 1,500 Delta County, Michigan, Economic Development Corporation, Environmental Improvement Revenue Refunding Bonds (Mead Westvaco-Escanaba), AMT, Series B, 6.45% due 4/15/2012 (e) 1,651 3,000 Detroit, Michigan, City School District, GO (School Building and Site Improvement), Refunding, Series A, 5% due 5/01/2021 (d) 3,170 1,000 Detroit, Michigan, City School District, GO (School Building and Site Improvement), Series A, 5.50% due 5/01/2012 (d)(e) 1,081 2,300 Detroit, Michigan, City School District, GO (School Building and Site Improvement), Series A, 5.375% due 5/01/2013 (c)(e) 2,500 3,100 Detroit, Michigan, City School District, GO (School Building and Site Improvement), Series B, 5% due 5/01/2028 (c) 3,212 1,325 Detroit, Michigan, GO, 5.50% due 4/01/2011 (b)(e) 1,412 1,025 Detroit, Michigan, Water Supply System Revenue Bonds, DRIVERS, Series 200, 7.544% due 7/01/2011 (c)(e)(i) 1,204 1,550 Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien, Series B, 5% due 7/01/2013 (b)(e) 1,655 2,420 Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien, Series B, 5% due 7/01/2034 (b) 2,510 1,250 Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien, Series A, 5.875% due 1/01/2010 (c)(e) 1,333 6,900 Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien, Series A, 5% due 7/01/2034 (b) 7,156 14,790 Detroit, Michigan, Water Supply System Revenue Bonds, Series B, 5.25% due 7/01/2013 (b)(e) 16,001 1,415 Detroit, Michigan, Water Supply System, Revenue Refunding Bonds, 6.25% due 7/01/2012 (c)(h) 1,508 3,900 Dickinson County, Michigan, Economic Development Corporation, Environmental Improvement Revenue Refunding Bonds (International Paper Company Project), Series A, 5.75% due 6/01/2016 4,150 3,100 Dickinson County, Michigan, Healthcare System, Hospital Revenue Refunding Bonds, 5.80% due 11/01/2024 (g) 3,247 1,610 East Grand Rapids, Michigan, Public School District, GO, 5.75% due 5/01/2009 (d)(e) 1,679 1,575 East Grand Rapids, Michigan, Public School District, GO, 5% due 5/01/2031 (d) 1,664
Portfolio Abbreviations To simplify the listings of BlackRock MuniYield Michigan Insured Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below. AMT Alternative Minimum Tax (subject to) COP Certificates of Participation DRIVERS Derivative Inverse Tax-Exempt Receipts GO General Obligation Bonds HDA Housing Development Authority M/F Multi-Family RIB Residual Interest Bonds BlackRock MuniYield Michigan Insured Fund, Inc. Schedule of Investments as of January 31, 2007 (concluded) (in Thousands)
Face Amount Municipal Bonds Value Michigan (concluded) $ 590 Eastern Michigan University, General Revenue Refunding Bonds, 6% due 6/01/2010 (a)(e) $ 636 435 Eastern Michigan University, General Revenue Refunding Bonds, 6% due 6/01/2020 (a) 467 1,500 Eastern Michigan University Revenue Bonds, Series B, 5.60% due 6/01/2010 (c)(e) 1,585 1,310 Eastern Michigan University Revenue Bonds, Series B, 5.625% due 6/01/2010 (c)(e) 1,385 2,425 Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2014 (d)(e) 2,601 1,325 Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5.25% due 5/01/2020 (d) 1,426 1,675 Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5.25% due 5/01/2021 (d) 1,801 1,700 Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2026 (d) 1,783 1,175 Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (d) 1,231 615 Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical Center), Series A, 5.375% due 7/01/2020 (g) 627 1,375 Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical Center), Series A, 6% due 7/01/2020 (g) 1,498 2,200 Fowlerville, Michigan, Community Schools, School District, GO, 5% due 5/01/2030 (c) 2,303 1,000 Frankenmuth, Michigan, School District, GO, 5.75% due 5/01/2010 (c)(e) 1,060 3,650 Gibraltar, Michigan, School District, School Building and Site, GO, 5% due 5/01/2028 (c) 3,826 1,100 Grand Blanc, Michigan, Community Schools, GO, 5.625% due 5/01/2020 (c) 1,181 1,035 Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2012 (a)(e) 1,125 665 Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2019 (a) 718 900 Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2020 (a) 972 2,070 Grand Valley, Michigan, State University Revenue Bonds, 5.50% due 2/01/2018 (c) 2,284 11,250 Greater Detroit Resource Recovery Authority, Michigan, Revenue Refunding Bonds, Series A, 6.25% due 12/13/2008 11,748 5,625 Gull Lake, Michigan, Community School District, School Building and Site, GO, 5% due 5/01/2014 (d)(e) 6,034 4,775 Harper Woods, Michigan, City School District, School Building and Site, GO, Refunding, 5% due 5/01/2034 (c) 4,987 9,325 Hartland, Michigan, Consolidated School District, GO, 6% due 5/01/2010 (c)(e) 9,955 3,990 Hudsonville, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (d) 4,180 1,575 Jenison, Michigan, Public Schools, School Building and Site, GO, 5.50% due 5/01/2019 (c) 1,692 650 Kalamazoo, Michigan, Hospital Finance Authority, Hospital Facility Revenue Refunding Bonds (Bronson Methodist Hospital), 5.50% due 5/15/2008 (b)(e) 671 4,000 Kent, Michigan, Hospital Finance Authority, Hospital Revenue Refunding Bonds (Butterworth Hospital), Series A, 7.25% due 1/15/2013 (b) 4,400 1,000 Kent, Michigan, Hospital Finance Authority Revenue Bonds (Spectrum Health), Series A, 5.50% due 7/15/2011 (e) 1,075 3,000 Kent, Michigan, Hospital Finance Authority Revenue Bonds (Spectrum Health), Series A, 5.50% due 7/15/2011 (b)(e) 3,226 1,510 Lansing, Michigan, Building Authority, GO, Series A, 5.375% due 6/01/2023 (b) 1,622 1,015 Lowell, Michigan, Area Schools, GO, Refunding, 5% due 5/01/2024 (b) 1,073 1,875 Michigan Higher Education Facilities Authority, Limited Obligation Revenue Bonds (Hillsdale College Project), 5% due 3/01/2035 1,927 2,250 Michigan Higher Education Facilities Authority, Limited Obligation Revenue Refunding Bonds (Hope College), Series A, 5.90% due 4/01/2032 2,381 1,235 Michigan Higher Education Facilities Authority Revenue Refunding Bonds (College for Creative Studies), 5.85% due 12/01/2022 1,313 1,145 Michigan Higher Education Facilities Authority Revenue Refunding Bonds (College for Creative Studies), 5.90% due 12/01/2027 1,214 2,500 Michigan Higher Education Student Loan Authority, Student Loan Revenue Bonds, AMT, Series XVII-B, 5.40% due 6/01/2018 (a) 2,558 1,065 Michigan Municipal Bond Authority Revenue Bonds (Local Government Loan Program), Group A, 5.50% due 11/01/2020 (a) 1,124 75 Michigan Municipal Bond Authority Revenue Refunding Bonds (Local Government Loan Program), Series A, 6.50% due 11/01/2012 (b) 75 1,000 Michigan Municipal Bond Authority Revenue Refunding Bonds (Local Government Loan Program), Series A, 6% due 12/01/2013 (c) 1,002 7,000 Michigan Municipal Bond Authority Revenue Refunding Bonds (Local Government Loan Program), Series A, 6.125% due 12/01/2018 (c) 7,013 2,500 Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% due 10/15/2018 (b) 2,669 3,500 Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series II, 5% due 10/15/2029 (b) 3,662 2,500 Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series II, 5% due 10/15/2033 (a) 2,635 1,250 Michigan State Building Authority, Revenue Refunding Bonds, RIB, Series 517X, 7.12% due 10/15/2010 (d)(i) 1,414 3,000 Michigan State, COP, 5.50% due 6/01/2010 (a)(e) 3,156 3,000 Michigan State, COP, 5.40% due 6/01/2022 (a)(h)(l) 1,544 4,240 Michigan State, Comprehensive Transportation Revenue Refunding Bonds, 5% due 5/15/2026 (d) 4,495 1,000 Michigan State HDA, Limited Obligation M/F Housing Revenue Bonds (Deaconess Towers Apartments), AMT, 5.25% due 2/20/2048 (f) 1,028 835 Michigan State, HDA, Rental Housing Revenue Bonds, AMT, Series A, 5.30% due 10/01/2037 (b) 850 2,530 Michigan State Hospital Finance Authority, Hospital Revenue Bonds (Mid-Michigan Obligation Group), Series A, 5.50% due 4/15/2018 (a) 2,692 2,200 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Crittenton Hospital), Series A, 5.625% due 3/01/2027 2,349 2,000 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Sparrow Obligation Group), 5.625% due 11/15/2031 2,123 9,180 Michigan State Hospital Finance Authority, Revenue Bonds (Mid-Michigan Obligor Group), Series A, 5% due 4/15/2036 9,418 8,465 Michigan State Hospital Finance Authority, Revenue Refunding Bonds, 5% due 11/15/2036 (b) 8,832 2,715 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), Series A, 5.75% due 11/15/2009 (b)(e) 2,883 12,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), Series A, 6.125% due 11/15/2009 (b)(e) 12,857 2,500 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), Series A, 6.25% due 11/15/2009 (b)(e) 2,686 7,200 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health System), Series A, 5.25% due 11/15/2032 7,635 3,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health System), Series A, 5% due 11/15/2038 3,089 2,200 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy Health Services), Series X, 5.75% due 8/15/2009 (b)(e) 2,326 2,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy Health Services), Series X, 6% due 8/15/2009 (b)(e) 2,127 4,930 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy-Mount Clemens), Series A, 6% due 5/15/2014 (b) 5,186 3,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Saint John Hospital), Series A, 6% due 5/15/2013 (a)(h) 3,107 6,400 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health), Series A, 6% due 12/01/2027 (a) 6,896 1,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit), Series C, 5.375% due 12/01/2023 1,061 5,255 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit), Series C, 5.375% due 12/01/2030 5,557 3,100 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit Group), Series D, 5% due 8/15/2034 3,218 10,250 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), AMT, Series A, 5.55% due 9/01/2029 (b) 10,763 6,000 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), Series AA, 6.95% due 5/01/2011 (c) 6,691 3,300 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), Series C, 5.45% due 9/01/2029 3,453 2,175 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Dow Chemical Company Project), AMT, 5.50% due 12/01/2028 2,319 15,000 Monroe County, Michigan, Economic Development Corp., Limited Obligation Revenue Refunding Bonds (Detroit Edison Co. Project), Series AA, 6.95% due 9/01/2022 (c) 19,580 1,000 Montrose Township, Michigan, School District, GO, 6.20% due 5/01/2017 (b) 1,178 1,830 Muskegon Heights, Michigan, Water System Revenue Bonds, Series A, 5.625% due 11/01/2010 (b)(e) 1,948 235 Northview, Michigan, Public School District, GO, Refunding, 5.80% due 5/01/2021 (b) 237 1,100 Norway Vulcan, Michigan, Area Schools, GO, 5.90% due 5/01/2009 (c)(e) 1,152 1,000 Oak Park, Michigan, Street Improvement, GO, 5% due 5/01/2030 (b) 1,058 5,320 Orchard View, Michigan, Schools, School Building and Site, GO, 5% due 5/01/2029 (b) 5,567 2,425 Oxford, Michigan, Area Community School District, GO, 5.50% due 11/01/2011 (d)(e) 2,604 765 Pennfield, Michigan, School District, School Building and Site, GO, 5% due 5/01/2014 (c)(e) 821 605 Pennfield, Michigan, School District, School Building and Site, GO, 5% due 5/01/2029 (c) 637 1,000 Plainwell, Michigan, Community Schools, School District, School Building and Site, GO, 5.50% due 11/01/2012 (d)(e) 1,088 3,905 Plymouth-Canton, Michigan, Community School District, GO, 5% due 5/01/2029 (c) 4,091 700 Pontiac, Michigan, Tax Increment Finance Authority, Revenue Refunding Bonds (Development Area Number 2), 5.625% due 6/01/2022 (g) 746 1,425 Reed, Michigan, City Public Schools, School Building and Site, GO, 5% due 5/01/2014 (d)(e) 1,529 2,000 Roseville, Michigan, School District, School Building and Site, GO, Refunding, 5% due 5/01/2031 (d) 2,114 2,500 Saginaw, Michigan, Hospital Finance Authority, Revenue Refunding Bonds (Covenant Medical Center), Series E, 5.625% due 7/01/2013 (b) 2,615 2,100 Saginaw Valley State University, Michigan, General Revenue Refunding Bonds, 5% due 7/01/2024 (c) 2,210 1,445 Saginaw Valley State University, Michigan, General Revenue Refunding Bonds, 5% due 7/01/2034 (c) 1,510 1,150 Saint Clair County, Michigan, Economic Revenue Refunding Bonds (Detroit Edison Company), RIB, Series 282, 8.87% due 8/01/2024 (a)(i) 1,277 1,300 Southfield, Michigan, Library Building Authority, GO, 5.50% due 5/01/2010 (b)(e) 1,368 2,900 Southfield, Michigan, Public Schools, School Building and Site, GO, Series A, 5.25% due 5/01/2027 (d) 3,100 3,500 Southfield, Michigan, Public Schools, School Building and Site, GO, Series A, 5% due 5/01/2029 (d) 3,666 1,325 Sparta, Michigan, Area Schools, School Building and Site, GO, 5% due 5/01/2014 (c)(e) 1,421 1,100 Waverly, Michigan, Community School, GO, 5.50% due 5/01/2010 (c)(e) 1,158 10,660 Wayne Charter County, Michigan, Airport Revenue Bonds (Detroit Metropolitan Wayne County), AMT, Series A, 5.375% due 12/01/2015 (b) 11,006 1,750 Wayne Charter County, Michigan, Detroit Metropolitan Airport, GO, Airport Hotel, Series A, 5% due 12/01/2030 (b) 1,820 9,160 Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County Airport), AMT, 5% due 12/01/2034 (b) 9,523 1,710 West Bloomfield, Michigan, School District, GO, Refunding, 5.50% due 5/01/2017 (c) 1,835 1,225 West Bloomfield, Michigan, School District, GO, Refunding, 5.50% due 5/01/2018 (c) 1,316 2,405 West Branch-Rose City, Michigan, Area School District, GO, 5.50% due 5/01/2009 (c)(e) 2,496 6,075 Western Michigan University Revenue Bonds, 5% due 11/15/2035 (c) 6,377 1,600 Zeeland, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (b) 1,676 Puerto Rico - 3.0% 2,900 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds, Series K, 5% due 7/01/2015 (e) 3,009 1,250 Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2026 1,338 2 Puerto Rico Electric Power Authority, Power Revenue Bonds, Trust Receipts, Class R, Series 16 HH, 7.558% due 7/01/2013 (d)(i) 2 2,790 Puerto Rico Municipal Finance Agency Revenue Bonds, Series A, 5% due 8/01/2027 (d) 2,899 1,000 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E, 5.70% due 2/01/2010 (e) 1,055 Total Municipal Bonds (Cost - $378,363) - 144.1% 400,566 Municipal Bonds Held in Trust (m) Michigan - 21.4% 6,700 Detroit, Michigan, Water Supply System, Senior Lien Revenue Bonds, Series A, 5.75% due 7/01/2011 (c)(e) 7,286 4,750 Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% due 10/15/2010 (d) 5,062 15,030 Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% due 10/15/2011 (d) 16,017 15,500 Saint Clair County, Michigan, Economic Revenue Refunding Bonds (Detroit Edison Co. Project), Series AA, 6.40% due 8/01/2024 (a) 16,357 7,525 Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County Airport), AMT, 5.25% due 12/01/2025 (b) 8,006 6,295 Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County Airport), AMT, 5.25% due 12/01/2026 (b) 6,697 Puerto Rico - 1.0% 2,535 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series HH, 5.75% due 7/01/2010 (d)(e) 2,718 Municipal Bonds Held in Trust (Cost - $61,629) - 22.4% 62,143 Shares Held Short-Term Securities 5,110 CMA Michigan Municipal Money Fund, 3.03% (j)(k) 5,110 Total Short-Term Securities (Cost - $5,110) - 1.8% 5,110 Total Investments (Cost - $445,102*) - 168.3% 467,819 Other Assets Less Liabilities - 1.6% 4,555 Liability for Trust Certificates, Including Interest Expense Payable - (10.5%) (29,333) Preferred Stock, at Redemption Value - (59.4%) (165,080) ----------- Net Assets Applicable to Common Stock - 100.0% $ 277,961 =========== * The cost and unrealized appreciation (depreciation) of investments as of January 31, 2007, as computed for federal income tax purposes, were as follows: Aggregate cost $ 416,335 ================= Gross unrealized appreciation $ 22,370 Gross unrealized depreciation (54) ----------------- Net unrealized appreciation $ 22,316 ================= (a) AMBAC Insured. (b) MBIA Insured. (c) FGIC Insured. (d) FSA Insured. (e) Prerefunded. (f) GNMA Collateralized. (g) ACA Insured. (h) Escrowed to maturity. (i) The rate disclosed is that currently in effect. This rate changes periodically and inversely based upon prevailing market rates. (j) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: Net Dividend Affiliate Activity Income CMA Michigan Municipal Money Fund (2,273) $38 (k) Represents the current yield as of January 31, 2007. (l) Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. (m) Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund may have acquired the residual interest certificates. These securities serve as collateral in a financing transaction. o Forward interest rate swaps outstanding as of January 31, 2007 were as follows: Notional Unrealized Amount Appreciation Pay a fixed rate of 3.636% and receive a floating rate based on 1-week Bond Market Association rate Broker, JPMorgan Chase Expires February 2017 $7,250 $ 82
Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - As of September 29, 2006, with the conclusion of the combination of Merrill Lynch's asset management business with BlackRock, the registrant was migrated to BlackRock's trading and compliance monitoring systems, and various personnel changes occurred. In conjunction with these business improvements, there were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal half-year of the period covered by this report that has materially affected, or is reasonably likely to 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 MuniYield Michigan Insured Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniYield Michigan Insured Fund, Inc. Date: March 26, 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: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniYield Michigan Insured Fund, Inc. Date: March 26, 2007 By: /s/ Donald C. Burke ------------------- Donald C. Burke Chief Financial Officer BlackRock MuniYield Michigan Insured Fund, Inc. Date: March 26, 2007