I just spoke with the District Ranger at the US Forest Service office in London.

The rumor is true. $50 permit and $300,000 liability insurance that covers the EVENT (not individual anglers). Apparently this has been on the books for some time, but "closed" tourneys (like club events) were exempt. He says that is no longer the case. All tourneys will require the permit and to get the permit you'll have to show proof of insurance for the event.

He has seen this thread and promised that their public affairs folks will continue to try to get the word out.