Risk, or in legal terms, the “peril”, is the core element of an insurance contract where the insurer bears a duty of compensation, namely payment of loss, upon its occurrence. Foreign investors may self-insure against political risks to reduce premium costs and implement risk prevention or mitigation measures. Once the insurance contract is in place, however, the insurer expects reasonable efforts, from the foreign investor during the course of the insurance contract as well as when the investor sustains a loss due to occurrence of the peril. In this chapter, we will emphasize the role that strategies play in mitigating risks. We have grouped these strategies under two headings: the first group is linked to the operation of the investment, and the second group is theoretical in nature and relates to legal commitments.