Thanks Tim - I'm not in the insurance business....I've just lived long enough in the states to know that "be insured" are the magic words. Soon you probably need insurance to cover your insurance too =(
For the BFR or flight review if you may - this link should be of some help:
http://www.airweb.faa.gov/REGULATORY...4?OpenDocument
Depending on the instructor and your own flying skills it should go fairly painless. I've done a few as a CFI (not too many) and haven't deemed anybody unsafe to fly on their own as of yet.
Do the BFR where you plan to rent - as already mentioned it should absolutely double as a rental checkout.