Accordingly, errors and omissions insurance is important for directors. Most states laws do not prohibit insurance giving broader coverage of director liability than permitted by indemnification. By reviewing and comparing coverages of the insurance products of different insurers, directors can usually find this broader coverage at reasonable rates. Read all materials sent to you before board and committee meetings. Never act on behalf of the corporation unilaterally.
Directors only have the power to act collectively, as a board.
Attend and participate in meetings of the board and in any committee on which you serve. If you cannot physically be present at a meeting, arrange in advance to attend the meeting via teleconference. Failing that, make sure you read the minutes of any meeting you missed. If you have questions, ask them. If you have concerns, express them.