Yes, you *definetly* need liability insurance. Waivers provide only limited protection: adult (not children; children's parents can waive for them, but courts look less favorably on those waviers than on adult waviers) guests can waive their right to sue for normal or reasonable threats (for example: if the camp offers boating, for being injured because they slip on a wet deck or dock and injure themselves), but the law does not allow them to waive their right to sue or seek compensation for unexpected or unusual threats, or even for usual and expected threats, if you and your staff are more than ordinarily careless (that is, you are actively reckless, or worse, a staff member intentionally does something causing an injury). Therefore, while it's never a bad idea to have guests sign a waiver, you also want adequate insurance. You should also conduct the business through a limited liability company (LLC) or corporation (inc.), since that will also help protect your personal assets from business debts or claims.