This paper presents the agricultural policy of the United States and the European Union and the instruments for risk management in agriculture. Agriculture is a field that is most suscepitable to risks, as a result of climate change and market relations, risks are becoming more and more common and stronger with years. For this reason, agricultural policies contain measures, and programs within them, to aid in reduced risk. Risk management assistance is limited by the World Trade Organization which limits the so-called hidden supports. North America has a large number of different risk management instruments of which the most numerous are agricultural insurance. The European Union lags behind when we talk about agricultural insurance, but it goes in the direction of innovative programs and is trying to get closer to the US. The paper presents the risk management instruments of both agricultural policies, demonstrates the level of application and efficiency with respect to budget allocations and benefits to farmers and their economies. Analyzes of secondary data sources such as studies, scientific papers, articles and internet websides by descriptive method and comparisons the paper shows a link between agricultural policies and risk management instruments. US agricultural policy outlines almost double of EU funds for risk management instruments. Most of the Farm bill funds are faced to support risk management while the EU funds are directed to support direct payments. The European Union has a static, while the US has a dynamic character. The difference between US and EU agricultural policies and their application is big, but Europe is moving in the direction of its reduction which is being discussed more and more lately, and the movements could be visible in the next budget period.