UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07094

Name of Fund: BlackRock New York Insured Municipal 2008 Term Trust, Inc. (BLN)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New York
          Insured Municipal 2008 Term Trust, 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: (800) 882-0052, Option 4

Date of fiscal year end: 12/31/2007

Date of reporting period: 07/01/2007 – 09/30/2007

Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER 30, 2007
 BlackRock New York Insured Municipal 2008 Term Trust (BLN) 
(Percentages shown are based on Net Assets)

Principal
                 
Amount
           
(000)
  Description    
Value
 
      LONG-TERM INVESTMENTS—97.1%        
      New York—97.1%        
$ 1,000   Bath Central Sch. Dist., Ad Valorem Ppty.        
         Tax GO, 4.00%, 6/15/08, FGIC   $ 1,003,870  
  2,250   Central Square Central Sch. Dist., Ad        
         Valorem Ppty. Tax GO, 3.75%, 5/15/09,        
         FGIC     2,260,890  
      City of New York, Ad Valorem Ppty. Tax        
      GO,        
  2,455 1    4.75%, 8/15/08, XLCA     2,506,383  
  2,265      4.75%, 8/15/09, XLCA     2,312,225  
  1,000      Ser. A, 5.20%, 8/01/10, FSA     1,023,050  
  45      Ser. C-1, 6.25%, 8/01/10, FSA     45,096  
  50      Ser. C-1, 6.375%, 8/01/08, MBIA     50,106  
  2,000 2    Ser. E, 6.20%, 8/01/08, MBIA     2,045,300  
  4,895      Ser. E, 6.20%, 8/01/08, MBIA     5,003,669  
  1,000   Cnty. of Erie, Pub. Impvt. Ad Valorem Ppty.        
         Tax GO, Ser. A, 3.75%, 10/01/08, FGIC     1,003,040  
      Cnty. of Monroe, Pub. Impvt. Ad Valorem        
      Ppty. Tax GO,        
  455 2    4.00%, 3/01/09, FGIC     458,631  
  770      4.00%, 3/01/09, FGIC     775,929  
      Dorm. Auth.,        
  3,500 1    Hlth., Hosp. & Nursing Home RB, Bronx-        
     
   Lebanon Hosp. Ctr. Proj., 5.00%, 2/15/08,
       
         MBIA     3,571,715  
  5,000 1    Hlth., Hosp. & Nursing Home RB, Bronx-        
         Lebanon Hosp. Ctr. Proj., 5.125%,        
         2/15/08, ACA, FSA     5,104,800  
  500      Hlth., Hosp. & Nursing Home RB, W.K.        
         Nursing Home Corp. Proj., 5.65%,        
         8/01/09     505,835  
  1,000      Hlth., Hosp. & Nursing Home RB,        
     
   Winthrop South Nassau Univ. Proj., Ser.
       
         A, 4.125%, 7/01/08, AMBAC     1,004,520  
  2,500      Misc. RB, St. Univ. Edl. Facs. Proj., Ser.        
         A, 5.50%, 5/15/08, AMBAC     2,531,750  
  5,000      Misc. RB, St. Univ. Edl. Facs. Proj., Ser.        
         A, 5.50%, 5/15/08, FGIC     5,063,500  
  6,000      Misc. RB, St. Univ. Edl. Facs. Proj., Ser.        
         A, 5.50%, 5/15/08, CONNIE LEE     6,075,060  
  5,000      Misc. RB, St. Univ. Edl. Facs. Proj., Ser.        
         A, 5.50%, 5/15/09, AMBAC     5,161,750  
  1,960   East Greenbush Central Sch. Dist., Ad        
         Valorem Ppty. Tax GO, Ser. C, 4.00%,        
         6/15/09, FSA     1,978,032  
  6,000   Env. Facs. Corp., Swr. RB Mun. Wtr. Proj.,        
         4.00%, 6/15/09     6,057,180  
  1,185   Evans-Brant Central Sch. Dist., Ad Valorem        
         Ppty. Tax GO, Ser. C, 3.75%, 12/15/08,        
         FGIC     1,189,290  
      Fayetteville-Manlius Central Sch. Dist., Ad        
      Valorem Ppty. Tax GO,        
  1,125      3.75%, 6/15/09, FGIC     1,130,715  
  1,000      4.00%, 6/15/08, FGIC     1,003,870  
  1,000   Gen. Fund GO, Ser. F, 5.50%, 9/15/08,        
         AMBAC     1,019,830  
      Hsg. Fin. Agcy., Local or Gtd. Hsg. RB,        
      Hsg. Mtg. Proj., Ser. A,        
  750      5.80%, 5/01/09, FSA     758,700  
  3,995      5.80%, 11/01/09, FSA     4,007,824  
  12,500   Long Island Pwr. Auth., Cash Flow Mgmt.        
         Elec., Pwr. & Lt. RB, 5.00%, 4/01/08,        
         MBIA     12,596,750  
      Met. Transp. Auth., Trans. RB,        
  2,500 2    Ser. A, 6.10%, 7/01/08, MBIA     2,549,375  
  26,075 2    Ser. K, 6.00%, 7/01/08, MBIA     26,570,686  
Principal
           
Amount
               
(000)
  Description      
Value
 
      New York— (cont'd)        
      Mt. Sinai Union Free Sch. Dist., Ad        
      Valorem Ppty. Tax GO,        
$ 935      6.00%, 2/15/08, AMBAC   $ 943,798  
  930      6.10%, 2/15/09, AMBAC     962,652  
  1,075      6.10%, 2/15/10, AMBAC     1,137,253  
      New York City Hlth. & Hosp. Corp., Hlth.,        
      Hosp. & Nursing Home RB,        
  2,810      Ser. A, 3.75%, 2/15/09, FSA     2,818,936  
  2,000      Ser. A, 5.00%, 2/15/08, AMBAC     2,011,040  
      New York City Mun. Wtr. Fin. Auth., Wtr.        
      RB,        
  11,500      Ser. A, Zero Coupon, 6/15/09, MBIA     10,812,415  
  1,710 2    Ser. A, 6.00%, 6/15/08, FGIC     1,740,506  
      New York City Transl. Fin. Auth., Pub.        
      Impvts. Income Tax RB,        
  3,835 2    4.00%, 5/01/09, MBIA     3,867,713  
  7,800 2    Ser. B, 5.25%, 5/01/11, MBIA     8,249,436  
  250   Pwr. Auth., Elec., Pwr. & Lt. RB, Ser. CC,        
         5.125%, 1/01/11, MBIA     262,315  
  1,030   Sodus Central Sch. Dist., Ad Valorem Ppty.        
         Tax GO, 4.00%, 6/15/09, FGIC     1,039,476  
  5,000   Suffolk Cnty. Indl. Dev. Agcy., Swr. RB,        
         6.00%, 2/01/08, FGIC     5,042,150  
  1,675   Suffolk Cnty. Wtr. Auth., Wtr. Util. Impvts.        
         Wtr. RB, Ser. C, 5.75%, 6/01/08,        
         AMBAC     1,692,990  
      Thruway Auth.,        
  2,000      Hwy. Impvts. Hwy. Tolls RB, Ser. A,        
         3.90%, 4/01/09, FSA     2,013,400  
  3,410      Hwy. Impvts. Misc. RB, Local Hwy. &        
         Brdg. Proj., Ser. A-2, 5.375%, 4/01/09,        
         MBIA     3,475,267  
  2,000      Hwy. Impvts. Sales Tax RB, Ser. B,        
         4.00%, 4/01/09, MBIA     2,016,320  
  2,900      Hwy. Impvts. Sales Tax RB, Ser. B,        
         5.25%, 4/01/11, MBIA     3,062,255  
  2,265 2 Triborough Brdg. & Tunl. Auth., Hwy. Tolls        
         RB, Ser. A, 5.125%, 1/01/11, MBIA     2,330,073  
      Urban Dev. Corp., Correctional Facs.        
      Impvts. Lease Approp. RB,        
  2,000      Ser. A, 5.50%, 1/01/09, AMBAC     2,050,200  
  5,140      Ser. B, 5.25%, 1/01/10, AMBAC     5,295,485  
      Total Long-Term Investments        
      (cost $164,491,522)     167,193,051  
      SHORT-TERM INVESTMENTS—2.0%        
      New York—2.0%        
      City of New York,        
  100 3    Ad Valorem Ppty. Tax GO, Ser. H,        
         3.96%, 10/01/07, MBIA, FRDD     100,000  
  2,855 3    Pub. Impvts. Ad Valorem Ppty. Tax GO,        
         Ser. A-6, 3.98%, 10/01/07, FSA, FRDD     2,855,000  
  500 3 Met. Transp. Auth., Fuel Sales Tax RB, Ser.        
         B, 3.80%, 10/04/07, FSA, FRWD     500,000  
      Total Short-Term Investments        
      (cost $3,455,000)     3,455,000  


1

 BlackRock New York Insured Municipal 2008 Term Trust (BLN) (continued) 
(Percentages shown are based on Net Assets)

 
Total Investments —99.1% (cost $167,946,5224)    
$
170,648,051  
Other assets in excess of liabilities —0.9%     1,630,954  
Net Assets —100%  
$
172,279,005  
 

 
1     

This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.
 
2

Security is collateralized by Municipal or U.S. Treasury obligations.
 
3

For purposes of amortized cost valuation, the maturity date of this instrument is considered to be the earlier of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of September 30, 2007.
 
4

Cost for federal income tax purposes is $167,862,822. The net unrealized appreciation on a tax basis is $2,785,229, consisting of $2,785,229 gross unrealized appreciation and $0 gross unrealized depreciation.
 
 

The value (market value plus accrued interest) of securities that are covered by insurance, which ensures the payment of principal and interest, represent approximately 96.6% of the Trust's net assets.
 
ACA  
— 3.0%
AMBAC  
— 14.0%
CONNIE LEE  
— 3.6%
FGIC  
— 12.8%
FSA  
— 9.4%
MBIA  
— 51.0%
XLCA  
— 2.8%

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


 

 

2

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 13a-15(b) under the Securities and 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 New York Insured Municipal 2008 Term Trust, Inc.
    
  By:  /s/ Donald C. Burke                    
    Donald C. Burke,
    President & Chief Executive Officer of
    BlackRock New York Insured Municipal 2008 Term Trust, Inc.
    
  Date: November 20, 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/ Donald C. Burke                    
    Donald C. Burke,
    President & Chief Executive Officer (principal executive officer) of
    BlackRock New York Insured Municipal 2008 Term Trust, Inc.
     
  Date: November 20, 2007
     
  By:  /s/ Neal J. Andrews                     
    Neal J. Andrews,
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Insured Municipal 2008 Term Trust, Inc.
     
  Date: November 20, 2007