Environmental engineers and others involved with brownfields redevelopment have increasingly come to appreciate the role of the new environmental insurance products in financing environmental liability risk. Most have probably heard of cleanup cost cap insurance that can transfer the risk of cost overruns to the insurance company and pollution liability policies that can transfer the risk of third-party liability and reopeners. Yet insurance alone cannot finance all of the environmental liability risk. Insurance only applies to unknown loss. The other part of environmental liability is the expected remedial costs, and there are some new and highly innovative ways of financing these costs. Oddly enough, environmental insurance, an excellent risk-transfer device for unknown loss, can also act as a device for financing known loss. Integrating insurance into the property transaction and the financing plan can help investors unlock the hidden value in brownfields properties.