Leading government relations specialist John Hanks has stepped down from his role as regulatory consultant with the National Insurance Brokers Association (NIBA).

The former senior Federal Government bureaucrat – he was an Assistant Commissioner in the Insurance and Superannuation Commission in the 1980s – helped shape regulatory change in the financial services sector and was a major influence in NIBA’s strategic negotiations over the Financial Services Reform Act.

“I have decided that I would like to ease back and this was the only realistic option,” he told insuranceNEWS.com.au today. “Looking at regulations and insurance, so much is happening and you have to stay abreast of it all – it has to be all or nothing.”

NIBA CEO Noel Pettersen told insuranceNEWS.com.au there are no immediate plans to replace Mr Hanks. He and NIBA’s legal adviser Mark Radford will co-ordinate responses on government issues, working with NIBA’s Regulatory Affairs Committee.

Mr Hanks says much of his recent work has been aimed at preventing the insurance industry being burdened by unnecessary regulation. Some of the highlights of his time working with NIBA have been his role in the introduction of the code of practice for insurance brokers, as well as preventing the term “insurance broker” from being dropped under the financial services reforms.

But he is disappointed he didn’t see changes made to state taxes on insurance, saying he’s hopeful the recent Henry tax review and the findings of the Victorian Bushfires Royal Commission will lead to changes in the near future.

“We haven’t seen the fundamental change we would like to see so far,” he said. “I would have liked to have seen that happen before I retire, but I guess we have a little bit longer to wait.”