Three comments:

If said abstractor is an LLC or a corporation, it is likely personal assets could not be touched, and really, what assets does an abstractor (as an LLC or corp) have?

Since all title companies have tinsurance, and since all the vendor managers that send us work have to have E&O, why do we as individuals have to have E&O?  It is a way for insurance companies to double or triple dip and this just chaps my hide....

Last, I don't know of any client who will work with me if I didn't have that insurance.   I have spoken to abstractors who don't have E&O and seem to do just fine, but one of the first things I've asked is for a copy of my E&O.