Extreme weather events are increasing farmers' risks, leading to a need for better risk management. EU regulations allow for subsidies for insurance and mutual funds to compensate for production and income losses. However, these tools are not being fully utilized, and there is a lack of clear guidelines. By comparing different EU countries, policymakers can consider options for improving risk management policies. Establishing a platform for consultation and knowledge sharing among stakeholders, farmers unions, and academics could help develop more efficient guidelines for Mutual Funds and Income Stabilisation Tools.