N-Q 1 miy.htm MIY miy.htm - Produced by Pellegrini and Associates, Inc. | 134 Spring Street New York NY 10012 | (212) 925-5151

UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07080

Name of Fund: BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
MuniYield Michigan Insured Fund, Inc., 55 East 52nd Street, New York, NY 10055.

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2010

Date of reporting period: 10/31/2009

Item 1 – Schedule of Investments

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
Michigan - 140.8%         
Corporate - 19.2%  Delta County EDC, Refunding RB, MeadWestvaco - Escanaba,     
  Series B, AMT, 6.45%, 4/15/12 (a)    $ 1,500  $ 1,694,805 
  Dickinson County EDC, Michigan, Refunding RB, International     
  Paper Co. Project, Series A, 5.75%, 6/01/16    3,900  3,919,071 
  Michigan Strategic Fund, Refunding RB, Detroit Edison Co.,     
  Series A, AMT (MBIA), 5.55%, 9/01/29    10,250  10,008,408 
  Monroe County EDC, Michigan, Refunding RB, Detroit Edison     
  Co., Series AA (MBIA), 6.95%, 9/01/22    15,000  17,176,500 
  Saint Clair County EDC, Michigan, Refunding RB, Detroit     
  Edison, Series AA (AMBAC), 6.40%, 8/01/24    17,800  18,036,740 
        50,835,524 
County/City/Special District/School  Adrian City School District, Michigan, GO (FSA),     
District - 44.8%  5.00%, 5/01/14 (a)    3,600  4,091,616 
  Avondale School District, Michigan, GO, Refunding (AGC),     
  4.00%, 5/01/20    1,000  953,920 
  Avondale School District, Michigan, GO, Refunding (AGC),     
  4.30%, 5/01/22    400  383,540 
  Bay City School District, Michigan, GO, School Building & Site     
  (FSA), 5.00%, 5/01/36    9,000  9,029,700 
  Birmingham City School District, Michigan, GO, School Building     
  & Site (FSA), 5.00%, 11/01/33    1,000  1,017,250 
  City of Oak Park Michigan, GO, Street Improvement (MBIA),     
  5.00%, 5/01/30    500  508,600 
  County of Wayne Michigan, GO, Building Authority, Capital     
  Improvement, Series A (MBIA), 5.25%, 6/01/16    1,000  1,003,510 
  Dearborn Brownfield Redevelopment Authority, GO, Limited     
  Tax, Redevelopment, Series A (AGC), 5.50%, 5/01/39  3,300  3,410,220 
  Detroit City School District, Michigan, GO, Refunding, School     
  Building & Site Improvement, Series A (FSA), 5.00%, 5/01/21  3,000  3,048,570 
  Detroit City School District, Michigan, GO, School Building &     
  Site Improvement, Series A (FGIC), 5.38%, 5/01/13 (a)  1,300  1,469,364 
  Detroit City School District, Michigan, GO, School Building &     
  Site Improvement, Series B (FGIC), 5.00%, 5/01/28  3,100  2,942,148 
  Eaton Rapids Public Schools, Michigan, GO, School Building &     
  Site (FSA), 5.25%, 5/01/20    1,325  1,429,317 
  Eaton Rapids Public Schools, Michigan, GO, School Building &     
  Site (FSA), 5.25%, 5/01/21    1,675  1,800,876 
  Ecorse Public School District, Michigan, GO, Refunding (FSA),     
  5.00%, 5/01/27    1,000  1,029,530 
  Frankenmuth School District, Michigan, GO (FGIC),     
  5.75%, 5/01/10 (a)    1,000  1,027,320 

Portfolio Abbreviations
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been
abbreviated according to the following list.

ACA  American Capital Access Corp.  GNMA  Government National Mortgage Association 
AGC  Assured Guaranty Corp.  GO  General Obligation Bonds 
AMT  Alternative Minimum Tax (subject to)  HDA  Housing Development Authority 
AMBAC  American Municipal Bond Assurance Corp.  HFA  Housing Finance Agency 
CAB  Capital Appreciation Bonds  MBIA  Municipal Bond Investors Assurance (National 
COP  Certificates of Participation         Public Finance Guaranty Corp.) 
EDC  Economic Development Corp.  RB  Revenue Bonds 
FGIC  Financial Guaranty Insurance Co.     
FSA  Financial Security Assurance Inc.     

1

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
    Par   
                                                                                                         Municipal Bonds    (000)  Value 
                                                                                                         Gibraltar School District, Michigan, GO, School Building & Site     
                                                                                                         (FGIC), 5.00%, 5/01/14 (a)    $ 2,940  $ 3,341,486 
                                                                                                         Gibraltar School District, Michigan, GO, School Building & Site     
                                                                                                         (MBIA), 5.00%, 5/01/28    710  722,588 
                                                                                                         Grand Blanc Community Schools, Michigan, GO (MBIA),     
                                                                                                         5.63%, 5/01/20    1,100  1,163,976 
                                                                                                         Grand Rapids Building Authority, Michigan, RB, Series A     
                                                                                                         (AMBAC), 5.50%, 10/01/12 (a)    1,035  1,166,755 
                                                                                                         Gull Lake Community School District, Michigan, GO, School     
                                                                                                         Building & Site (FSA), 5.00%, 5/01/14 (a)    5,625  6,393,150 
                                                                                                         Harper Creek Community School District, Michigan, GO,     
                                                                                                         Refunding (FSA), 5.00%, 5/01/22    1,125  1,176,143 
                                                                                                         Harper Woods School District, Michigan, GO, School Building &     
                                                                                                         Site (FGIC), 5.00%, 5/01/14 (a)    4,345  4,938,353 
                                                                                                         Harper Woods School District, Michigan, GO, School Building &     
                                                                                                         Site (MBIA), 5.00%, 5/01/34    430  430,856 
                                                                                                         Jenison Public Schools, Michigan, GO, Building & Site (MBIA),     
                                                                                                         5.50%, 5/01/19    1,575  1,683,014 
                                                                                                         Lanse Cruese Michigan Public Schools, GO, School Building &     
                                                                                                         Site (FSA), 5.00%, 5/01/35    3,000  3,033,060 
                                                                                                         Lansing Building Authority, Michigan, GO, Series A (MBIA),     
                                                                                                         5.38%, 6/01/13 (a)    1,510  1,716,930 
                                                                                                         Lincoln Consolidated School District, Michigan, GO, Refunding,     
                                                                                                         4.63%, 5/01/28    5,500  5,415,960 
                                                                                                         Livonia, Michigan, Public School District, GO, Refunding,     
                                                                                                         Series A, 5.00%, 5/01/24    1,000  1,030,980 
                                                                                                         Michigan State Building Authority, AMT, 5.50%, 10/15/18  2,500  2,581,877 
                                                                                                         Michigan State Building Authority, Refunding RB, Facilities     
                                                                                                         Program, Series I (FSA), 5.50%, 10/15/10 (b)    7,250  7,529,693 
                                                                                                         Michigan State Building Authority, Refunding RB, Facilities     
                                                                                                         Program, Series I (FSA), 5.50%, 10/15/11    15,030  16,105,304 
                                                                                                         Montrose Township School District, Michigan, GO (MBIA),     
                                                                                                         6.20%, 5/01/17    1,000  1,163,050 
                                                                                                         New Haven Community Schools Michigan, GO, Refunding,     
                                                                                                         School Building and Site (FSA), 5.00%, 5/01/23    1,500  1,545,285 
                                                                                                         Orchard View Schools, Michigan, GO, School Building & Site     
                                                                                                         (MBIA), 5.00%, 11/01/13 (a)    5,320  6,034,795 
                                                                                                         Pennfield School District, Michigan, GO, School Building & Site     
                                                                                                         (FGIC), 5.00%, 5/01/14 (a)    1,370  1,550,114 
                                                                                                         Reed City Public Schools, Michigan, GO, School Building & Site     
                                                                                                         (FSA), 5.00%, 5/01/14 (a)    1,425  1,619,598 
                                                                                                         Southfield Library Building Authority, Michigan, GO (MBIA),     
                                                                                                         5.50%, 5/01/10 (a)    1,300  1,333,891 
                                                                                                         Southfield Public Schools, Michigan, GO, School Building &     
                                                                                                         Site, Series B (FSA), 5.00%, 5/01/14 (a)    3,500  3,960,145 
                                                                                                         Thornapple Kellogg School District, Michigan, GO, Refunding,     
                                                                                                         School Building & Site (MBIA), 5.00%, 5/01/32    2,500  2,521,775 
                                                                                                         Waverly Community School, GO (FGIC), 5.50%, 5/01/10 (a)  1,100  1,128,050 
                                                                                                         Wayne Charter County Michigan, GO, Airport Hotel, Detroit     
                                                                                                         Metropolitan Airport, Series A (MBIA), 5.00%, 12/01/30  1,750  1,716,400 
                                                                                                         West Bloomfield School District, Michigan, GO, Refunding     
                                                                                                         (MBIA), 5.50%, 5/01/17    1,710  1,844,509 
                                                                                                         West Bloomfield School District, Michigan, GO, Refunding     
                                                                                                         (MBIA), 5.50%, 5/01/18    1,225  1,315,160 

2

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)     Value 
  Zeeland Public Schools, Michigan, GO, School Building & Site     
  (MBIA), 5.00%, 5/01/29    $ 1,600  $ 1,638,832 
        118,947,210 
Education - 6.8%  Eastern Michigan University, Michigan, RB, General, Series B     
  (FGIC), 5.60%, 6/01/10 (a)    1,500  1,545,765 
  Eastern Michigan University, Michigan, RB, General, Series B     
  (FGIC), 5.63%, 6/01/10 (a)    1,310  1,350,165 
  Eastern Michigan University, Michigan, Refunding RB, General     
  (AMBAC), 6.00%, 6/01/10 (a)    590  615,517 
  Eastern Michigan University, Michigan, Refunding RB, General     
  (AMBAC), 6.00%, 6/01/20    435  448,041 
  Grand Valley State University, Michigan, RB (MBIA),     
  5.50%, 2/01/18    2,070  2,241,603 
  Michigan Higher Education Facilities Authority, Michigan, RB,     
  Limited Obligation, Hillsdale College Project, 5.00%, 3/01/35  1,875  1,730,681 
  Michigan Higher Education Facilities Authority, Michigan,     
  Refunding RB, Limited Obligation, Creative Studies,     
  5.85%, 6/01/12 (a)    1,235  1,378,198 
  Michigan Higher Education Facilities Authority, Michigan,     
  Refunding RB, Limited Obligation, Creative Studies,     
  5.90%, 6/01/12 (a)    1,145  1,279,217 
  Michigan Higher Education Student Loan Authority, Michigan,     
RB, Student Loan, Series XVII-B, AMT (AMBAC),
  5.40%, 6/01/18    2,500  2,506,025 
  Michigan Higher Education Student Loan Authority, Michigan,     
RB, Student Loan, Series XVII-Q, AMT (AMBAC),
  5.00%, 3/01/31    3,000  2,721,780 
  Saginaw Valley State University, Michigan, Refunding RB,     
  General (MBIA), 5.00%, 7/01/24    2,100  2,144,541 
        17,961,533 
Health - 20.5%  County of Dickinson Michigan, Refunding RB (ACA),     
  5.80%, 11/01/24    3,100  2,959,632 
  Flint Hospital Building Authority, Michigan, Refunding RB,     
  Hurley Medical Center (ACA), 6.00%, 7/01/20    1,305  1,200,535 
  Flint Hospital Building Authority, Michigan, Refunding RB,     
  Hurley Medical Center, Series A (ACA), 5.38%, 7/01/20  615  535,911 
  Kent Hospital Finance Authority, Michigan, RB, Spectrum     
  Health, Series A (MBIA), 5.50%, 7/15/11 (a)    3,000  3,264,870 
  Kent Hospital Finance Authority, Michigan, Refunding RB,     
  Butterworth, Series A (MBIA), 7.25%, 1/15/13    2,685  2,903,210 
  Michigan State Hospital Finance Authority, Michigan, RB,     
  Hospital, Mid-Michigan Obligation Group, Series A (AMBAC),     
  5.50%, 4/15/18    2,530  2,575,818 
  Michigan State Hospital Finance Authority, Michigan, RB,     
  McLaren Health Care, 5.75%, 5/15/38    4,500  4,530,015 
  Michigan State Hospital Finance Authority, Michigan, RB,     
  McLaren Health Care, Series C, 5.00%, 8/01/35  1,000  913,530 
  Michigan State Hospital Finance Authority, Michigan, RB, Mid-     
  Michigan Obligation Group, Series A, 5.00%, 4/15/36  1,750  1,619,555 
  Michigan State Hospital Finance Authority, Michigan, RB,     
  Series A, Trinity Health, 6.25%, 12/01/28    930  1,008,353 
  Michigan State Hospital Finance Authority, Michigan, RB,     
  Series A, Trinity Health, 6.50%, 12/01/33    1,000  1,099,210 

3

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Henry Ford Health System, Series A,       
  5.25%, 11/15/46    $ 2,500  $ 2,168,350 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Hospital, Crittenton, Series A, 5.63%, 3/01/27  2,050  2,019,722 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Hospital, Oakwood Obligation Group, Series A,     
  5.00%, 7/15/25    4,100  3,760,520 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Hospital, Oakwood Obligation Group, Series A,     
  5.00%, 7/15/37    630  533,390 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Hospital, Sparrow Obligated, 5.00%, 11/15/31  3,100  2,929,810 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Trinity Health Credit, C, 5.38%, 12/01/23    1,000  1,009,700 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Trinity Health Credit, C, 5.38%, 12/01/30    3,755  3,756,389 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Trinity Health Credit, D, 5.00%, 8/15/34    3,100  3,060,723 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Trinity Health, Series A (AMBAC),       
  6.00%, 12/01/27    6,400  6,542,848 
  Michigan State Hospital Finance Authority, Michigan, Refunding     
  RB, Trinity Health, Series A, 6.00%, 12/01/20    2,200  2,260,896 
  Royal Oak Hospital Finance Authority, Michigan, RB, William     
  Beaumont Hospital, 8.25%, 9/01/39    1,000  1,161,390 
  Saginaw Hospital Finance Authority, Michigan, Refunding RB,     
  Covenant Medical Center, Series E (MBIA), 5.63%, 7/01/13  2,500  2,529,500 
        54,343,877 
Housing - 4.5%  Michigan State HDA, RB College Program, Deaconess Tower,     
  AMT (GNMA), 5.25%, 2/20/48    1,000  982,420 
  Michigan State HDA, RB College Program, Williams Pavilion,     
  AMT (GNMA), 4.75%, 4/20/37    3,960  3,662,802 
  Michigan State HDA, RB, Non Ace, Series A, 6.00%, 10/01/45  6,990  7,154,265 
Michigan State HDA, RB, Series A, AMT (MBIA),
  5.30%, 10/01/37    200  198,836 
        11,998,323 

4

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
State - 8.5%  Michigan Municipal Bond Authority, Michigan, RB, Local     
  Government, Charter County Wayne, Series B (AGC),     
  5.00%, 11/01/14    $ 2,400  $ 2,637,816 
  Michigan Municipal Bond Authority, Michigan, RB, Local     
  Government, Charter County Wayne, Series B (AGC),     
  5.00%, 11/01/15    1,500  1,642,620 
  Michigan Municipal Bond Authority, Michigan, RB, Local     
  Government, Charter County Wayne, Series B (AGC),     
  5.00%, 11/01/16    500  546,255 
  Michigan Municipal Bond Authority, Michigan, RB, Local     
  Government, Charter County Wayne, Series B (AGC),     
  5.38%, 11/01/24    125  133,836 
  Michigan Municipal Bond Authority, Michigan, RB, Local     
Government Loan Program, Group A (AMBAC),
  5.50%, 11/01/20    1,065  1,087,929 
  Michigan State Building Authority, RB, Program Series I (AGC),     
  5.25%, 10/15/26    600  628,422 
  Michigan State Building Authority, Refunding RB, Facilities     
  Program, Series I, 6.25%, 10/15/38    3,900  4,204,668 
  Michigan State Building Authority, Refunding RB, Facilities     
  Program, Series I (AGC), 5.25%, 10/15/24    4,000  4,220,160 
  Michigan State Building Authority, Refunding RB, Facilities     
  Program, Series I (AGC), 5.25%, 10/15/25    2,000  2,096,700 
  Michigan State Building Authority, Refunding RB, Facilities     
  Program, Series II (MBIA), 5.00%, 10/15/29    3,500  3,508,645 
  State of Michigan, COP (AMBAC), 5.53%, 6/01/22 (b)(c)  3,000  1,780,830 
        22,487,881 
Transportation - 16.9%  Wayne Charter County Michigan, RB, Detroit Metropolitan     
  Wayne County, Series A, AMT (MBIA), 5.38%, 12/01/15  10,660  10,764,148 
  Wayne County Airport Authority, RB, Detroit Metropolitan     
  Wayne County Airport, AMT (MBIA), 5.25%, 12/01/25  7,525  7,058,074 
  Wayne County Airport Authority, RB, Detroit Metropolitan     
  Wayne County Airport, AMT (MBIA), 5.25%, 12/01/26  6,300  5,849,802 
  Wayne County Airport Authority, RB, Detroit Metropolitan     
  Wayne County Airport, AMT (MBIA), 5.00%, 12/01/34  9,160  7,947,399 
  Wayne County Airport Authority, Refunding RB, AMT (AGC),     
  5.75%, 12/01/25    4,000  4,053,400 
  Wayne County Airport Authority, Refunding RB, AMT (AGC),     
  5.75%, 12/01/26    1,000  1,006,970 
  Wayne County Airport Authority, Refunding RB, AMT (AGC),     
  5.38%, 12/01/32    8,700  8,137,980 
        44,817,773 
Utilities - 19.6%  City of Detroit Michigan, RB, Second Lien, Series B (FSA),     
  7.00%, 7/01/36    3,000  3,520,770 
  City of Detroit Michigan, RB, Second Lien, Series B (MBIA),     
  5.00%, 7/01/13 (a)    1,550  1,734,698 
  City of Detroit Michigan, RB, Second Lien, Series B (MBIA),     
  5.00%, 7/01/34    2,420  2,251,350 
  City of Detroit Michigan, RB, Senior Lien, Series A (FGIC),     
  5.88%, 1/01/10 (a)    1,250  1,274,300 
  City of Detroit Michigan, RB, Senior Lien, Series A (FGIC),     
  5.75%, 7/01/11 (a)    5,250  5,684,017 
  City of Detroit Michigan, RB, Senior Lien, Series A (FSA),     
  5.00%, 7/01/25    4,000  4,060,880 

5

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)       
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)         Value 
  City of Detroit Michigan, RB, Senior Lien, Series A (MBIA),     
  5.00%, 7/01/34    $ 6,900  $ 6,534,645 
City of Detroit Michigan, RB, Series B (MBIA),
  5.25%, 7/01/13 (a)    11,790  13,299,474 
City of Detroit Michigan, Refunding RB (FGIC),
  6.25%, 7/01/12 (b)    860  924,973 
  City of Detroit Michigan, Refunding RB, Second Lien, Series C     
  (FSA), 5.00%, 7/01/29    10,570  10,743,031 
  City of Muskegon Heights Michigan, RB, Series A (MBIA),     
  5.63%, 11/01/10 (a)    1,830  1,926,093 
        51,954,231 
  Total Municipal Bonds in Michigan      373,346,352 
Puerto Rico - 4.7%         
Housing - 0.8%  Puerto Rico HFA, RB, Subordinate, Capital Fund Modernization,     
  5.13%, 12/01/27    2,000  1,996,400 
State - 2.3%  Puerto Rico Public Buildings Authority, Refunding RB,     
  Government Facilities, M-3 (MBIA), 6.00%, 7/01/27  2,100  2,164,155 
  Puerto Rico Sales Tax Financing Corp., RB, CAB, Series A     
  (MBIA), 5.20%, 8/01/43 (c)    12,500  1,674,125 
  Puerto Rico Sales Tax Financing Corp., RB, CAB, Series A     
  (MBIA), 4.99%, 8/01/46 (c)    20,000  2,182,600 
        6,020,880 
Transportation - 1.6%  Puerto Rico Highway & Transportation Authority, Refunding     
  RB, Series CC (AGC), 5.50%, 7/01/31    4,000  4,385,760 
  Total Municipal Bonds in Puerto Rico      12,403,040 
  Total Municipal Bonds - 145.5%      385,749,392 
  Municipal Bonds Transferred to       
  Tender Option Bond Trusts (d)       
Michigan - 11.9%         
County/City/Special District/School  Lakewood Public Schools, Michigan, GO, School Building & Site     
District - 4.4%  (FSA), 5.00%, 5/01/37    6,775  6,876,316 
  Portage Public Schools Michigan, GO, School Building & Site     
  (FSA), 5.00%, 5/01/31    4,650  4,799,497 
        11,675,813 
Education - 7.5%  Saginaw Valley State University Michigan, Refunding RB (FSA),     
  5.00%, 7/01/31    7,500  7,674,300 
  Wayne State University, Refunding RB (FSA), 5.00%, 11/15/35  12,210  12,342,479 
        20,016,779 
  Total Municipal Bonds Transferred to       
  Tender Option Bond Trusts - 11.9%      31,692,592 
  Total Long-Term Investments       
  (Cost - $410,769,473) - 157.4%      417,441,984 
  Short-Term Securities    Shares   
  CMA Michigan Municipal Money Fund, 0.04% (e)(f)  6,130,472  6,130,472 
  Total Short-Term Securities       
  (Cost - $6,130,472) - 2.3%      6,130,472 
  Total Investments (Cost - $416,899,945*) - 159.7%    423,572,456 
  Other Assets Less Liabilities - 0.9%      2,558,025 
  Liability for Trust Certificates, Including Interest Expense     
  and Fees Payable - (6.1)%      (16,214,489) 
  Preferred Shares, at Redemption Value - (54.5)%    (144,663,138) 
  Net Assets Applicable to Common Shares - 100.0%  $ 265,252,854 

6

BlackRock MuniYield Michigan Insured Fund, Inc. (MIY)
Schedule of Investments October 31, 2009 (Unaudited)

* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for federal
income tax purposes, were as follows:

Aggregate cost  $ 401,401,800 
Gross unrealized appreciation  $ 16,736,829 
Gross unrealized depreciation  (10,756,173) 
Net unrealized appreciation  $ 5,980,656 

(a) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date
indicated, typically at a premium to par.
(b) Security is collateralized by Municipal or US Treasury Obligations.
(c) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.
(d) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest
certificates. These securities serve as collateral in a financing transaction.
(e) 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:

Affiliate      Net Activity  Income 
CMA Michigan Municipal Money Fund  $ (1,399,851)  $ 254 

(f) Represents the current yield as of report date.

• Fair Value Measurements – Various inputs are used in determining the fair value of investments, which are as follows:
• Level 1 - price quotations in active markets/exchanges for identical assets and liabilities
• Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in
markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active,
inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield
curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-
corroborated inputs)

• Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent
observable inputs are not available (including the Fund's own assumptions used in determining the fair value of
investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Fund's policy regarding valuation of investments and other
significant accounting policies, please refer to the Fund's most recent financial statements as contained in its annual
report.

The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Fund's
investments:

Valuation  Investments in   
Inputs  Securities   
  Assets   
Level 1 - Short-Term Securities           $ 6,130,472 
Level 2 - Long-Term Investments1  417,441,984 
Level 3  -  
Total         $ 423,572,456 

1 See above Schedule of Investments for values in each sector.

7

Item 2 – Controls and Procedures

2(a) – 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”)) are effective as
of a date within 90 days of the filing of this report based on the evaluation of these controls and
procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities
Exchange Act of 1934, as amended.

2(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) 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

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/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: December 18, 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: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: December 18, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield Michigan Insured Fund, Inc.

Date: December 18, 2009