Nuveen Insured California Premium Income Municipal Fund 2, Inc. operates as a closed-end management investment company. The company primarily invests in a diversified portfolio of municipal obligations issued by state and local government authorities within the state of California or certain U.S. territories. Its investment portfolio includes education and civic organizations, utilities, water and sewer, and other sectors. Nuveen Asset Management serves as the investment advisor of the company. Nuveen Insured California Premium Income Municipal Fund 2 was founded in 1993 and is based in Chicago, Illinois.