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Utah names attorney Dennis Flynn as new state risk manager

Utah names attorney Dennis Flynn as new state risk manager

Money Moves Salt Lake City, UT local

Veteran general counsel takes over division running the state's captive insurance companies

Today: Dennis Flynn named new state risk manager

Overview

Updated 1 hour 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

17
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.

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People Involved

Organizations Involved

Timeline

January 2022 September 2026

3 events Latest: Today
  1. Dennis Flynn named new state risk manager

    Today Appointment

    Flynn replaced Rachel Terry as director of the Division of Risk Management.

  2. Rachel Terry named state risk manager

    Appointment

    Terry took over the division and later expanded its captive insurance program.

  3. Flynn becomes division general counsel

    Appointment

    Dennis Flynn took the top legal role at the Division of Risk Management.

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.

Sources

(3)