Starting a tournament team

Hi folks: We have a group of kids that want to be challenged beyond what Little League offers. We believe a tournament team is the way to go. But, we are new at this. Without pestering everyone to death, what exactly is needed in the way of insurance, basic rules and regulations and any other important facet of the tournament game that we should be aware of?
Is there a specific insurance company most tourney teams deal with? Is there a central organization tourney teams belong to? Any and all information will be much appreciated. This team would be located in the South Bay, particularly the Lomita-Harbor City-Torrance hub. Thanks,
Joe