It is found that flowing liquid Pb83Li17 eutectic can be used as both tritium breeder and blanket coolant in fusion reactors with high-power densities and strong transverse magnetic fields provided the channel walls are rendered electrically insulated, either by use of a nonconducting material or with a nonconducting coating over a metallic material. Examples are given for the Ohmically Heated Toroidal Experiment, STARFIRE, and Riggatron fusion reactor conceptual designs.