This chapter examined the degree of legislative intervention in waste-management activities that generate environmental risk, with particular attention to the legal design of financial security mechanisms. It demonstrated substantial variation among sector-specific directives and highlighted the practical importance of institutional questions, notably the designation of the competent authority responsible for determining the amount and form of financial security. These findings indicate that financial security cannot be assessed solely in economic terms, but must be analysed with regard to its legal nature and normative function. Building on this, the chapter addresses whether insurance can constitute an adequate instrument of financial security in environmental law. It therefore turns to the doctrinal foundations of financial security, especially its classification as a form of personal security, and—given the prevailing tendency to equate insurance with the insurance contract—focuses on this insurance instrument. The analysis then systematically compares the insurance contract with other legally recognised instruments (including bank guarantees, surety bonds, and trust-based mechanisms) to evaluate their respective capacity to secure compliance with environmental obligations. The objective is to determine whether, and under what conditions, insurance can function as an effective and legally coherent form of financial security within environmentally sound waste management, while identifying the scope and limits of its applicability.