Concept:In insurance, the person who evaluates and accepts a risk in exchange for a premium is the underwriter.
Explanation:The underwriter examines the risk involved before deciding to accept it.
He then sets the premium amount for covering that risk.
The broker only arranges insurance policies between clients and companies.
The actuary calculates risks and premiums using statistics, but does not undertake the risk.
The insurer is usually the company that provides the cover.
Therefore, the party that personally "undertakes any risk" in the insurance business is the underwriter.
Answer:B. an underwriter