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This chapter discusses various methods of transferring and mitigating risks in IT sourcing in detail. The chapter delves into essential aspects like insurance policies, indemnification clauses, performance bonds, and service level agreements (SLAs), highlighting how they can help organizations protect their financial and operational interests. The chapter provides insights into effectively utilizing insurance products and contractual risk transfer methods. By shedding light on the process of evaluating the costs and benefits associated with each option, the chapter arms readers with the knowledge to align their risk transfer strategies with their risk profiles effectively. Whether you’re navigating the nuances of indemnification clauses or measuring the impact of potential risks, this chapter serves as a comprehensive guide.