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         811-7492         

        Nuveen Insured California Premium Income Municipal Fund 2, Inc.         
(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:            08/31          

Date of reporting period:          05/31/05         

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 California Premium Income Municipal Fund 2, Inc. (NCL)
	May 31, 2005
Principal		Optional Call		Market
Amount (000)	Description(1)	Provisions*	Ratings**	Value
	Education and Civic Organizations - 12.3% (8.4% of Total Investments)
	California Educational Facilities Authority, Revenue Bonds, Santa Clara University, Series 1996:
$ 2,400	5.750%, 9/01/21 - MBIA Insured	9/06 at 102.00	AAA	$ 2,530,176
3,000	5.750%, 9/01/26 - MBIA Insured	9/06 at 102.00	AAA	3,151,260
2,000	California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2000,	11/10 at 100.00	Aaa	2,248,200
	5.875%, 11/01/20 - MBIA Insured
2,125	California Educational Facilities Authority, Student Loan Revenue Bonds, Cal Loan Program, Series	3/08 at 102.00	Aaa	2,239,495
	2001A, 5.400%, 3/01/21 (Alternative Minimum Tax) - MBIA Insured
5,380	California State University, Systemwide Revenue Bonds, Series 2004A, 5.000%, 11/01/16 - FSA	5/14 at 100.00	AAA	5,917,623
	Insured
1,500	California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 - AMBAC	5/15 at 100.00	AAA	1,614,750
	Insured
6,000	University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%, 5/15/27 -	5/13 at 100.00	AAA	6,357,060
	AMBAC Insured
	Healthcare - 4.5% (3.0% of Total Investments)
1,450	California Health Facilities Financing Authority, Insured Health Facility Revenue Refunding Bonds,	7/06 at 102.00	AAA	1,524,139
	Mark Twain St. Joseph's Healthcare Corporation, Series 1996A, 6.000%, 7/01/19 - MBIA Insured
5,000	California Health Facilities Financing Authority, Insured Health Facility Revenue Refunding Bonds,	7/06 at 102.00	AAA	5,245,450
	Catholic Healthcare West, Series 1996A, 6.000%, 7/01/25 - MBIA Insured
1,755	University of California, Hospital Revenue Bonds, UCLA Medical Center, Series 2004A, 5.500%,	5/12 at 101.00	AAA	1,978,569
	5/15/18 - AMBAC Insured
	Housing/Single Family - 0.6% (0.4% of Total Investments)
1,105	California Housing Finance Agency, Single Family Mortgage Bonds, Series 1997C-2-II, 5.625%,	8/07 at 101.50	AAA	1,147,344
	8/01/20 (Alternative Minimum Tax) - MBIA Insured
	Tax Obligation/General - 20.2% (13.7% of Total Investments)
1,460	ABC Unified School District, Los Angeles County, California, General Obligation Bonds, Series	8/10 at 101.00	AAA	1,645,712
	2000B, 5.750%, 8/01/16 - FGIC Insured
485	California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.500%, 12/01/24	6/05 at 101.00	AAA	490,291
	(Alternative Minimum Tax) - FSA Insured
2,500	California, Various Purpose General Obligation Bonds, Series 1999, 5.500%, 9/01/24 - FSA Insured	9/09 at 101.00	AAA	2,730,775
4,400	California, General Obligation Bonds, Series 2003, 5.000%, 2/01/31 - MBIA Insured	2/13 at 100.00	AAA	4,624,048
3,000	California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.375%, 12/01/24	6/07 at 101.00	AAA	3,072,480
	(Alternative Minimum Tax) - MBIA Insured
	California, General Obligation Bonds, Series 2004:
1,000	5.000%, 2/01/18 - AMBAC Insured	2/14 at 100.00	AAA	1,084,390
2,250	5.000%, 4/01/31 - AMBAC Insured	4/14 at 100.00	AAA	2,379,015
	Kern Community College District, California, General Obligation Bonds, Series 2003A:
3,655	5.000%, 11/01/20 - FGIC Insured	11/13 at 100.00	AAA	3,994,184
2,665	5.000%, 11/01/21 - FGIC Insured	11/13 at 100.00	AAA	2,893,444
1,750	Lake Tahoe Unified School District, El Dorado County, California, General Obligation Bonds, Series	8/09 at 100.00	AAA	1,880,340
	1999A, 5.250%, 8/01/24 - FGIC Insured
1,255	Los Angeles Community College District, Los Angeles County, California, General Obligation Bonds,	8/15 at 100.00	AAA	1,352,940
	Series 2005A, 5.000%, 8/01/24 - FSA Insured
2,200	Los Angeles Unified School District, California, General Obligation Bonds, Series 2003F, 5.000%,	7/13 at 100.00	AAA	2,409,440
	7/01/17 - FSA Insured
	Manteca Unified School District, San Joaquin County, California, General Obligation Bonds, Series
	2004:
1,000	5.250%, 8/01/21 - FSA Insured	8/14 at 100.00	AAA	1,106,810
1,000	5.250%, 8/01/22 - FSA Insured	8/14 at 100.00	AAA	1,103,560
1,270	Merced City School District, Merced County, California, General Obligation Bonds, Series 2004,	8/13 at 100.00	AAA	1,372,464
	5.000%, 8/01/22 - FGIC Insured
1,125	San Diego Unified School District, California, General Obligation Bonds, Election of 1998, Series	No Opt. Call	AAA	548,213
	1999A, 0.000%, 7/01/21 - FGIC Insured
2,000	San Francisco Community College District, California, General Obligation Bonds, Series 2002A,	6/10 at 102.00	Aaa	2,108,440
	5.000%, 6/15/26 - FGIC Insured
	San Jose-Evergreen Community College District, Santa Clara County, California, General Obligation
	Bonds, Series 2005A:
320	5.000%, 9/01/25 - MBIA Insured	9/15 at 100.00	AAA	344,579
465	5.000%, 9/01/27 - MBIA Insured	9/15 at 100.00	AAA	498,299
1,000	San Ramon Valley Unified School District, Contra Costa County, California, General Obligation	8/14 at 100.00	AAA	1,073,280
	Bonds, Series 2004, 5.000%, 8/01/24 - FSA Insured
2,445	Washington Unified School District, Yolo County, California, General Obligation Bonds, Series	8/13 at 100.00	AAA	2,652,263
	2004A, 5.000%, 8/01/21 - FGIC Insured
	Tax Obligation/Limited - 44.2% (29.9% of Total Investments)
	Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement
	Project, Series 1997C:
5,130	0.000%, 9/01/18 - FSA Insured	No Opt. Call	AAA	2,915,687
8,000	0.000%, 9/01/21 - FSA Insured	No Opt. Call	AAA	3,881,760
	California Infrastructure Economic Development Bank, Revenue Bonds, North County Center for
	Self-Sufficiency Corporation, Series 2004:
1,535	5.000%, 12/01/20 - AMBAC Insured	12/13 at 100.00	AAA	1,649,849
1,780	5.000%, 12/01/23 - AMBAC Insured	12/13 at 100.00	AAA	1,898,601
3,500	California Department of Transportation, Federal Highway Grant Anticipation Bonds, Series 2004A,	No Opt. Call	AAA	3,898,405
	5.000%, 2/01/15 - FGIC Insured
3,450	California State Public Works Board, Lease Revenue Bonds, Department of Health Services, Series	11/09 at 101.00	AAA	3,814,010
	1999A, 5.750%, 11/01/24 - MBIA Insured
5,000	Compton Community Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged Area	8/05 at 102.00	AAA	5,130,300
	Redevelopment Projects, Series 1995A, 6.500%, 8/01/13 - FSA Insured
4,000	Contra Costa County, California, Certificates of Participation Refunding, Merrithew Memorial	11/07 at 102.00	AAA	4,270,800
	Hospital Replacement Project, Series 1997, 5.500%, 11/01/22 - MBIA Insured
6,000	El Monte, California, Senior Lien Certificates of Participation, Department of Public Services	1/11 at 100.00	AAA	6,283,620
	Facility Phase II, Series 2001, 5.000%, 1/01/21 - AMBAC Insured
3,000	Galt Schools Joint Powers Authority, Sacramento County, California, Revenue Refunding Bonds, High	11/07 at 102.00	AAA	3,245,070
	School and Elementary School Facilities, Series 1997A, 5.875%, 11/01/24 - MBIA Insured
285	Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A, 5.000%,	9/15 at 100.00	AAA	307,883
	9/01/20 (WI, settling 6/07/05) - XLCA Insured
5,000	Kern County Board of Education, California, Certificates of Participation Refunding, Series 1998A,	5/08 at 102.00	AAA	5,304,700
	5.200%, 5/01/28 - MBIA Insured
5,000	La Quinta Redevelopment Agency, California, Tax Allocation Refunding Bonds, Redevelopment Project	9/07 at 102.00	AAA	5,269,800
	Area 1, Series 1998, 5.200%, 9/01/28 - AMBAC Insured
2,300	Long Beach Bond Finance Authority, Multiple Project Tax Allocation Bonds, Housing and Gas Utility	8/15 at 100.00	AAA	2,457,734
	Financing Project Areas, Series 2005A-1, 5.000%, 8/01/25 - AMBAC Insured
4,000	Los Angeles, California, Certificates of Participation, Municipal Improvement Corporation, Series	6/13 at 100.00	AAA	4,197,520
	2003AW, 5.000%, 6/01/33 - AMBAC Insured
1,000	Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill Project,	12/14 at 100.00	AAA	1,082,090
	Series 2004A, 5.000%, 12/01/20 - FSA Insured
3,865	Los Angeles County Metropolitan Transportation Authority, California, Proposition C Second Senior	7/10 at 101.00	AAA	4,146,604
	Lien Sales Tax Revenue Bonds, Series 2000A, 5.250%, 7/01/30 - FGIC Insured
1,250	Los Angeles County Metropolitan Transportation Authority, California, Proposition A First Tier	7/13 at 100.00	AAA	1,367,075
	Senior Sales Tax Revenue Bonds, Series 2003B, 5.000%, 7/01/19 - MBIA Insured
2,690	Norwalk Community Facilities Financing Authority, Los Angeles County, California, Tax Allocation	9/05 at 102.00	AAA	2,764,190
	Revenue Refunding Bonds, Series 1995A, 6.000%, 9/01/15 - FSA Insured
2,780	Pittsburg Redevelopment Agency, California, Tax Allocation Refunding Bonds, Los Medanos Community	No Opt. Call	AAA	3,069,982
	Development Project, Series 2003A, 5.000%, 8/01/12 - MBIA Insured
4,140	Plumas County, California, Certificates of Participation, Capital Improvement Program, Series	6/13 at 101.00	AAA	4,384,508
	2003A, 5.000%, 6/01/28 - AMBAC Insured
2,000	Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment	12/10 at 102.00	AAA	2,248,060
	Project, Series 2000, 5.750%, 6/15/33 - MBIA Insured
1,000	Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities	9/13 at 100.00	AAA	1,071,510
	District 1, Series 2004, 5.000%, 9/01/25 - MBIA Insured
5,000	San Bernardino Joint Powers Financing Authority, California, Certificates of Participation	9/09 at 102.00	AAA	5,492,350
	Refunding, Police Station Financing Project, Series 1999, 5.500%, 9/01/20 - MBIA Insured
3,500	San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds, Series 1999,	7/09 at 101.00	AAA	3,788,890
	5.500%, 7/01/34 - FGIC Insured
1,930	Santa Margarita/Dana Point Authority, Orange County, California, Revenue Refinancing Bonds,	No Opt. Call	AAA	1,944,224
	Improvement Districts 1, 2, 2A and 8, Series 1994A, 7.250%, 8/01/05 - MBIA Insured
	Transportation - 6.7% (4.5% of Total Investments)
6,500	Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds,	1/10 at 65.32	AAA	3,447,145
	Series 1999, 0.000%, 1/15/18 - MBIA Insured
4,000	Orange County Transportation Authority, California, Toll Road Revenue Bonds, 91 Express Lanes	8/13 at 100.00	AAA	4,385,680
	Project, Series 2003A, 5.000%, 8/15/18 - AMBAC Insured
5,000	San Francisco Airports Commission, California, Revenue Refunding Bonds, San Francisco International	5/11 at 100.00	AAA	5,215,100
	Airport, Second Series 2001, Issue 27A, 5.250%, 5/01/31 (Alternative Minimum Tax) - MBIA Insured
	U.S. Guaranteed *** - 22.0% (14.9% of Total Investments)
	California Infrastructure Economic Development Bank, Revenue Bonds, Asian Art Museum of San
	Francisco, Series 2000:
1,295	5.500%, 6/01/19 (Pre-refunded to 6/01/10) - MBIA Insured	6/10 at 101.00	AAA	1,457,885
1,000	5.500%, 6/01/20 (Pre-refunded to 6/01/10) - MBIA Insured	6/10 at 101.00	AAA	1,125,780
	California, Various Purpose General Obligation Bonds, Series 2000:
7,995	5.750%, 3/01/22 (Pre-refunded to 3/01/10) - MBIA Insured	3/10 at 101.00	AAA	9,056,416
2,000	5.750%, 3/01/27 (Pre-refunded to 3/01/10) - MBIA Insured	3/10 at 101.00	AAA	2,260,780
2,725	Central Unified School District, Fresno County, California, General Obligation Bonds, Series 1993,	9/05 at 100.00	AAA	2,794,133
	5.625%, 3/01/18 - AMBAC Insured
3,000	Escondido Union High School District, San Diego County, California, General Obligation Bonds,	11/06 at 102.00	AAA	3,178,560
	Series 1996, 5.700%, 11/01/10 - MBIA Insured
	Fresno Unified School District, Fresno County, California, General Obligation Bonds, Series 2001F:
1,065	5.125%, 8/01/21 - FSA Insured	8/09 at 102.00	AAA	1,144,279
1,160	5.125%, 8/01/22 - FSA Insured	8/09 at 102.00	AAA	1,246,350
1,220	5.125%, 8/01/23 - FSA Insured	8/09 at 102.00	AAA	1,310,817
1,500	Hacienda La Puente Unified School District, Los Angeles County, California, General Obligation	8/10 at 101.00	AAA	1,610,580
	Bonds, Series 2000A, 5.250%, 8/01/25 (Pre-refunded to 8/01/10) - MBIA Insured
1,890	Menifee Union School District, Riverside County, California, Certificates of Participation, School	9/06 at 102.00	AAA	2,003,513
	Projects, Series 1996, 6.125%, 9/01/24 (Pre-refunded to 9/01/06) - FSA Insured
2,500	Oakland, California, Insured Revenue Bonds, 1800 Harrison Foundation - Kaiser Permanente, Series	1/10 at 100.00	AAA	2,827,450
	1999A, 6.000%, 1/01/29 (Pre-refunded to 1/01/10) - AMBAC Insured
4,320	Riverside County, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage	No Opt. Call	AAA	6,066,533
	Revenue Bonds, Series 1987B, 8.625%, 5/01/16 (Alternative Minimum Tax)
1,000	Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2000A,	12/10 at 101.00	AAA	1,107,540
	5.500%, 12/01/20 (Pre-refunded to 12/01/10) - AMBAC Insured
5,450	Visalia, California, Certificates of Participation Refunding, Motor Vehicle License Fee	12/06 at 102.00	AAA	5,760,541
	Enhancement, Series 1996A, 5.375%, 12/01/26 (Pre-refunded to 12/01/06) - MBIA Insured
	Utilities - 12.1% (8.2% of Total Investments)
3,740	California Pollution Control Financing Authority, Revenue Refunding Bonds, Southern California	9/09 at 101.00	AAA	4,036,171
	Edison Company, Series 1999B, 5.450%, 9/01/29 - MBIA Insured (a)
3,215	Modesto Irrigation District, California, Revenue Refunding Bonds, Series 1996A, 6.000%, 10/01/15 -	10/06 at 102.00	AAA	3,408,993
	MBIA Insured
3,500	Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2002II, 5.125%, 7/01/26 - FSA	7/12 at 101.00	AAA	3,770,935
	Insured
1,790	Sacramento City Financing Authority, California, Capital Improvement Revenue Bonds, Solid Waste and	12/09 at 102.00	AAA	2,016,668
	Redevelopment Projects, Series 1999, 5.800%, 12/01/19 - AMBAC Insured
1,950	Salinas Valley Solid Waste Authority, California, Revenue Bonds, Series 2002, 5.250%, 8/01/27	8/12 at 100.00	AAA	2,068,657
	(Alternative Minimum Tax) - AMBAC Insured
	Santa Clara, California, Subordinate Electric Revenue Bonds, Series 2003A:
2,800	5.000%, 7/01/24 - MBIA Insured	7/13 at 100.00	AAA	3,011,904
5,000	5.000%, 7/01/28 - MBIA Insured	7/13 at 100.00	AAA	5,297,950
	Water and Sewer - 25.1% (17.0% of Total Investments)
1,700	Castaic Lake Water Agency, California, Revenue Certificates of Participation, Series 2004A,	8/14 at 100.00	AAA	1,835,388
	5.000%, 8/01/20 - AMBAC Insured
2,975	Chino Basin Regional Finance Authority, California, Sewerage System Revenue Bonds, Inland Empire	8/05 at 101.00	AAA	3,042,116
	Utilities Agency, Series 1994, 6.000%, 8/01/16 - AMBAC Insured
2,000	El Dorado Irrigation District, California, Water and Sewer Certificates of Participation, Series	3/14 at 100.00	AAA	2,147,080
	2004A, 5.000%, 3/01/21 - FGIC Insured
2,700	Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds,	10/13 at 100.00	AAA	2,930,634
	Capital Projects, Series 2003A, 5.000%, 10/01/21 - FSA Insured
12,000	Orange County Sanitation District, California, Certificates of Participation, Series 2003, 5.000%,	8/13 at 100.00	AAA	12,593,760
	2/01/33 - FGIC Insured
2,775	Pomona Public Financing Authority, California, Revenue Bonds, Water Facilities Project, Series	5/09 at 101.00	AAA	2,996,389
	1999AC, 5.500%, 5/01/29 - FGIC Insured
750	Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2004A,	12/14 at 100.00	AAA	812,805
	5.000%, 12/01/21 - AMBAC Insured
1,520	San Buenaventura, California, Water Revenue Certificates of Participation, Series 2004, 5.000%,	10/14 at 100.00	AAA	1,622,083
	10/01/25 - AMBAC Insured
3,675	San Dieguito Water District, California, Water Revenue Bonds, Series 2004, 5.000%, 10/01/23 - FGIC	10/14 at 100.00	AAA	3,957,240
	Insured
	Santa Clara Valley Water District, California, Certificates of Participation, Series 2004A:
1,400	5.000%, 2/01/19 - FGIC Insured	2/14 at 100.00	AAA	1,510,656
445	5.000%, 2/01/20 - FGIC Insured	2/14 at 100.00	AAA	478,816
465	5.000%, 2/01/21 - FGIC Insured	2/14 at 100.00	AAA	498,926
2,130	Santa Rosa, Sonoma County, California, Wastewater Revenue Bonds, Series 2004B, 5.000%, 9/01/18 -	9/14 at 100.00	AAA	2,328,537
	FGIC Insured
2,500	West Basin Municipal Water District, California, Revenue Certificates of Participation, Series	8/13 at 100.00	AAA	2,632,500
	2003A, 5.000%, 8/01/30 - MBIA Insured
4,500	Westlands Water District, California, Revenue Certificates of Participation, Series 2005A, 5.000%,	3/15 at 100.00	AAA	4,772,340
	9/01/30 - MBIA Insured
	Yorba Linda Water District, California, Certificates of Participation, Highland Reservoir
	Renovation, Series 2003:
2,010	5.000%, 10/01/28 - FGIC Insured	10/13 at 100.00	AAA	2,132,851
2,530	5.000%, 10/01/33 - FGIC Insured	10/13 at 100.00	AAA	2,673,679

$ 277,785	Total Long-Term Investments (cost $268,834,286) - 147.7%	287,780,415
	Other Assets Less Liabilities - 1.1%	2,049,141
	Preferred Shares, at Liquidation Value - (48.8)%	(95,000,000)
	Net Assets Applicable to Common Shares - 100%	$194,829,556
	All of the bonds in the portfolio are either covered by Original Issue Insurance, Secondary Market Insurance or
	Portfolio Insurance, or are backed by an escrow or trust containing sufficient U.S. Government or U.S.
	Government agency securities, any of which 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.
*	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.
**	Ratings: Using the higher of Standard & Poor's or Moody's rating.
***	Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency
	securities which ensures the timely payment of principal and interest.
(a)	The issuer has recieved a preliminary adverse determination from the Internal Revenue Service (the "IRS")
	regarding the tax-exempt status of the bonds' coupon payments. The Fund will continue to treat coupon
	payments as tax-exempt income until such time that it is formally determined that the interest on the bonds
	should be treated as taxable.
(WI)	Security purchased on a when-issued basis.
	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 income on taxable market
	discount securities and timing differences in recognizing certain gains and losses on investment transactions.
	At May 31, 2005, the cost of investments was $268,696,298.
	Gross unrealized appreciation and gross unrealized depreciation of investments at May 31, 2005, were as
	follows:
	Gross unrealized:
	Appreciation	$19,120,513
	Depreciation	(36,396)
	Net unrealized appreciation of investments	$19,084,117

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 California Premium Income Municipal Fund 2, Inc.        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         07/29/05        

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--Chief Administrative Officer (principal executive officer)        

Date         07/29/05        

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

Date         07/29/05        

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

EX-99.CERT

CERTIFICATIONS

I, Gifford R. Zimmerman, certify that:

1. I have reviewed this report on Form N-Q of Nuveen Insured California Premium Income Municipal Fund 2, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
   1. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
   2. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
   3. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
   1. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
   2. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:         07/29/05        

        /s/ Gifford R. Zimmerman        
Chief Administrative Officer
(principal executive officer)

CERTIFICATIONS

I, Stephen D. Foy, certify that:

1. I have reviewed this report on Form N-Q of Nuveen Insured California Premium Income Municipal Fund 2, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:
   1. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
   2. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
   3. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
   1. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
   2. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:         07/29/05        

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