IF i'm honest unless you drive like a complete idiot on the ring i'd say it's just as safe as a normal road. When i was there it was people spinning off, no one crashed into each other.
Id disagree completely. Its a race track, yes im aware its a "public road" but try explaining that to someone with limited/no track experience. When i went 2 people died and there was about 4 closures in one day, now exactly a typical scenario on a public road, heck the UK alone in one day alone get similar statistics.
In regards to the original post, insurance is something you can throw out of the window. You wont be covered for the ring, yes the ol "but its a public road" does sound a brilliant excuse but insurance companies now even specify in their t&c's that the Nurbugring is excluded so as far as insurance is concerned, you have none. There are specialised insurance companies for track days but expect to pay an absolute fortune.
I'm not recommending this in the slightest but what i did was get ADAC breakdown cover (they will pick you up off the ring and get you and your passengers home either by car or plane) and get your car home anywhere in Europe. I didnt even bother with insurance other than phone (you need to phone them to tell them your going, even if your policy says you have automatic european insurance) and get cover for France, Belgium, Netherlands and Germany. If i crashed on the ring, id pay the bill for the damage to armco etc and try my luck with insurance that i crashed "outside". The chances are you would get nowhere but its the risk i and most people take.