Professional liability insurance—sometimes called malpractice insurance or errors and omissions insurance—is insurance that may be purchased by attorneys and law firms to pay the costs of defending legal malpractice claims, and the costs of settling such claims or paying the judgment awarded to a plaintiff on such a claim. Most states do not require attorneys to purchase professional liability insurance, but some states require attorneys who do not carry professional liability insurance to provide notice to their clients of that fact. Some states require attorneys to have their clients sign a written disclosure that the attorney does not have professional liability insurance.

In Colorado, attorneys are not mandated by state law to carry professional liability insurance, also known as malpractice insurance or errors and omissions insurance. However, the Colorado Rules of Professional Conduct require attorneys who do not maintain such insurance to inform their clients of this lack of coverage. Specifically, Rule 1.4 of the Colorado Rules requires that a lawyer who does not have professional liability insurance must communicate this fact to the client in writing at the time of the client's engagement of the lawyer, if the representation involves more than four hours of legal work. Failure to comply with this rule can result in disciplinary action against the attorney. It is important for clients to be aware of their attorney's insurance status, as it can affect their recourse in the event of legal malpractice.