Through my graduation thesis, we got acquainted with the very concept of personal finance, as well as the financial risks of individuals. Risks represent a very wide and complex area, and one encounters them on a daily basis throughout their lives, which is the reason why they represent the key item in the management of personal finances. When it comes to financial risks we distinguish inflation risk, interest rates changes, changes in the level of personal income, personal risk and liquidity risk. These can be measured by sensitivity analysis, extreme event testing, scenario testing, CAMP model, and VaR risk value. Confronting risks is more successful if we do business with entities that provide risk protection services, for example the insurance company UNIQA plc. that provides people with protection from sudden situations, protects health and property, as well as our families and ourselves. The EU’s insurance sector is very diverse, which is why the European Union is introducing new risk management rules. Solvency II represents the new legislative and regulatory framework for the overall business of insurance and reinsurance companies in the European Union, while EIOPA represents the European Insurance and Occupational Pensions Authority. Consumer protection is key to EIOPA, and it takes a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products and services across the EU.