Unfortunately, the law would seem to disagree with you. Whether you choose to call your product an abstract or not does not impact on the realities of the situation. If you have represented yourself as someone having the expertise to complete a title search, you will be held to the standard of a reasonable individual who performs that type of work. Your conduct in performing the search will be compared to the conduct of the reasonable individual abstractor in this business. If your services fail to attain that level, you will be held liable. Labels count for nothing. 

The price you charge for your services does not determine whether or not you are liable for having produced a defective abstract. It is not a matter of providing insurance, but rather a matter of liability. If someone has experienced damages as a result of relying on a defective abstract, the defendant in the ensuing negligence action could be held liable for the full measure of damages...including the refund of fee.

I think the point that so many of us have voiced on this board in recent months is that the current level of fees...$40.00....$50.00...$60.00 for the usual current owner search are not nearly enough compensation for the assumption of the risk in performing the title search,. remember that the next time someone offers you $40.00 for a fee. The one comfort we have is the e&o insurance we purchase.