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Who will arrange the indemnity insurance, and given the disparity of the "self employed" partners likely areas of expertise (I'm assuming that they won't be in competition with each other) and therefore risk who will pay? And that ignores potential "hub" based claims.

I'm not against the notion, which will appeal to free lances, but rather the after the event view of the courts which will look at the reality as perceived by the client/public.