Bungeys = not good
TRC, we stand together on this one - age (wisdom?) & youth (32) side by side.. The observation about the 'restraint' for the camera-man is particularly germane. Many strenuous discussions as I recall at F/O in the past with just such a matter. Loads of customer enthusiasm, but less attention to that we had advised should be complied with.
And, though I haven't checked with my Insurance gurus in the City, I fear the situation you outline may well be the exact one come an 'arrival' at some point. Insurance my not entirely evaporate, but I'd bet that there would be severe limitations on what/who is covered and for how much.
And the Commander's decision is final. (after all, he's the one who has to answer the difficult questions if it all goes South in a hurry). I agree - tell insurers, NAA before you get airborne, what you wish to do and get an exemption of some kind. - VFR