Utah names attorney Dennis Flynn as new state risk manager

Overview

Updated 6 days ago

Utah's state government runs its own insurance operation, funding liability claims for agencies, schools, universities, and charter schools through captive companies instead of buying commercial policies. On Sept. 6, veteran attorney Dennis Flynn took over the division that manages that risk.

Flynn replaces Rachel Terry, who led the division since 2023 and, officials say, saved Utahns millions by keeping risk funding in-house. His task: hold the self-insurance model steady while keeping premium increases down for the state entities it covers.

Why it matters

Utah's captive program decides how much state agencies and school districts pay for coverage and who absorbs a big liability claim.

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Key Indicators

Years Flynn spent as a civil and insurance defense litigator

His private-practice background before joining the state in 2015.

2022

Year Flynn became division general counsel

He moved into the risk division's top legal role two years before leading it.

2023

Year Rachel Terry took over as risk manager

She led the division until this appointment and is credited with millions in savings.

Millions

State savings credited to Terry's captive program

Officials say her changes moderated annual premium increases for covered entities.

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

People Involved

Dennis Flynn

State Risk Manager and Director, Utah Division of Risk Management

Appointed effective Sept. 6, 2026

Rachel Terry

Outgoing State Risk Manager

Moved to Commissioner's Office, Utah System of Higher Education

Marvin Dodge

Commissioner, Utah Department of Government Operations

Made the appointment

Spencer Cox

Governor of Utah

Approved the appointment

Organizations Involved

Utah Division of Risk Management

State Agency

Runs Utah's self-insurance program and captive insurance companies

Insures and provides loss control services to Utah state agencies, school districts, higher education institutions, and some charter schools.

Utah Department of Government Operations

State Agency

Parent agency that houses the Division of Risk Management

The state agency that oversees Utah's internal services, including the Division of Risk Management.

Utah System of Higher Education

Education System

Rachel Terry's new employer

Coordinates Utah's public colleges and universities; Terry joined its Commissioner's Office.

Timeline

January 2022 September 2026

3 events Latest: 6 days ago

September 2026
Dennis Flynn named new state risk manager
Latest Appointment

Flynn replaced Rachel Terry as director of the Division of Risk Management.
6 days ago
January 2023
Rachel Terry named state risk manager
Appointment

Terry took over the division and later expanded its captive insurance program.
January 1st, 2023
January 2022
Flynn becomes division general counsel
Appointment

Dennis Flynn took the top legal role at the Division of Risk Management.
January 1st, 2022

Scenarios

Flynn expands Utah's captive insurance program

Possible Resolves by End of 2027

Discussed by: Utah Department of Government Operations announcements; Captive International coverage

Flynn has signaled continuity, saying he wants to build on the state's captive companies. Expansion could mean new captive structures, adding charter schools or other entities to coverage, or new lines such as cyber or property. Triggers would be budget approvals in the 2027 legislative session.

A large claim tests the captive program's reserves

Unlikely Resolves by Q3 2027

Discussed by: State financial disclosures; risk management industry observers

A major liability payout, such as a court judgment, settlement, or large property loss, would draw down captive reserves. If reserves fall short, covered entities could face premium hikes or the state might buy commercial reinsurance. The division's annual report and actuarial reviews would show the impact.

Captive program keeps premiums steady under Flynn

Likely Resolves by Jul 1, 2027

Discussed by: State officials; covered entities including school districts and universities

Continuation of Terry's record. The program would keep premium increases for covered entities at or near zero, funded by in-house reserves and investment returns. That outcome would show the self-insurance model sustaining itself without commercial top-ups.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

1996

California Earthquake Authority (1996)

After the 1994 Northridge earthquake produced about $12.5 billion in insured losses and insurers stopped writing new policies, California created the California Earthquake Authority, a publicly managed pool that funds claims from premiums and investment returns.

Then

Homeowners got an earthquake coverage option again, backed by a pool rather than private insurers.

Now

The model showed governments can stand up their own risk-funding vehicles when commercial insurance fails them.

Why this matters now

Utah's captive companies follow the same logic: the state retains risk it used to pay private carriers to bear.

mid-1980s

Public entity risk pools surge in the 1980s liability crisis

In the mid-1980s, commercial liability insurance prices spiked and coverage dried up for cities, counties, and schools. In response, thousands of public entities formed self-insurance pools to share risk directly, often called intergovernmental pools.

Then

Municipalities regained liability coverage at predictable cost without commercial insurers.

Now

Public self-insurance pools became a permanent feature of local and state finance.

Why this matters now

Utah's captive program is a modern version of the same strategy: public entities keeping their own risk rather than buying commercial policies.