I don't think it is just the metal tip on the umbrella that makes it the lightening hazard. Without researching it alot here is my explanation.
Electrical current like water wants to find the easiest path. Air is a good insulator so, it doesn't conduct electricity as well... But, Lightening is such a big charge anyway, it can travel through air. It still wants to find the easiest route to the ground. Metal is a good conductor, even though it is a small peice of metal, it is still a easier route for the charge for a small distance, and then other pieces of metal, or even salt water (your body). The other problem the umbrela has going for it, is it could be the highest thing around. if it isn't, you don't have to worry too much, unless you are close to the highest thing around. It is really the combination hight and conductivity that makes a lightening hazard.
So.. knights in a field or on top of a hill would make a good lightening hazard. Would be sort of humorous, but I imagine people wouldn't have much fought in stormy weather. the battle can wait another day.