You'd be talking about a planet orbiting inside the heliosphere or plasma sheath of a dwarf star with heat reflected back onto the planet more or less equally from all directions. Some scientists are now claiming tha would be the MOST likely scenario for habitable planets.
Its an interesting possibility. I know that Saturn has an enormous magnetic field and it seems likely that a brown dwarf would have the same as well. This would offer a fair amount of protection for a close orbit planet.