Nuveen Insured California Premium Income Municipal Fund, Inc. (the Fund) is a closed-end management investment company. The Fund seeks to provide current income exempt from both regular federal and California state income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain United States territories. The Fund is authorized to invest in inverse floating-rate securities and zero coupon securities. Its portfolio composition includes tax obligation/limited, tax obligation/general, the United States guaranteed, water and sewer, and other. The Fund's investment advisor is Nuveen Asset Management, a wholly owned subsidiary of Nuveen Investments, Inc.