The only Insignia camcorder I could find was
this one. It clearly states in the specs that is uses and comes with a USB 2.0 cable. Use that, for starters. I've never heard of a 'fugi cable'.
That manual says that camera's video format is and AVI file with H.264 encoding. I don't know why the default app opening is iPhoto. Anyway, the files might be usable in iMovie 08 or 09. You might have to download add-on, either Perian or Flip4Mac. I'd try Perian first, but only if iMovie can't open the file.
Since the camera probably looks like a drive to the Mac, you can close iPhoto without having imported the video, and then start up iMovie. When you are done, unmount the 'drive', then unplug it.