The difference between the face value of a life policy and the mathematical reserve that has accrued. The net amount at risk declines throughout the duration of the contract while the reserve and its cash value increase. The amount at risk is the sum that an insurer would have to draw from its own funds rather than the policy reserve in the event of having to pay a claim for death.

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Actuarial term for the difference between the sum insured and the mathematical reserve.

The sums contributed as general average contributions to make good general average sacrifices. The allowances or amounts to be made good are formula-based to ensure equity in the adjustment. With expenditure, the amount made good is the expenditure itself.

Payment of a claim in error by an insurer is recoverable if the mistake is of a fact, but not if the payment is by mistake of law. Failure to deduct excesses or apply average are mistakes of fact and can be recovered.