Risk management tools aim to address downward income fluctuations. Income risks stemming from weather fluctuations, natural disasters, pests and diseases have always been important in the agricultural sector. In a context of more open agricultural markets, farm revenues are now more directly influenced by price developments than a decade ago, reinforcing the need for a comprehensive risk assessment. The CAP contains several measures that are labelled specifically as risk management instruments, but many more measures and payments directly or indirectly influence the risk exposure of farmers. This chapter reviews these measures and builds on previous work on risk management to describe selected examples of risk management strategies in Spain, the Netherlands, Canada and the United States.