Nonadmitted and Reinsurance Reform Act of 2006

[AI summary unavailable — showing source text] Nonadmitted and Reinsurance Reform Act of 2006 - Prohibits any state other than the home state of an insured from requiring any premium tax payment for nonadmitted insurance. Prescribes requirements for reporting, payment, and allocation of premium taxes. Subjects nonadmitted insurance solely to the regulatory requirements of the insured's home state. Prohibits a state, beginning two years after enactment of this Act, from collecting any fees relating to licensing of a nonresident insurance broker in the state unless the state has laws or regulations in effect that provide for its participation in the national insurance producer database of the National Association of Insurance Commissioners (NAIC). Prohibits a state from establishing eligibility criteria for nonadmitted insurers domiciled in a U.S. jurisdiction except in conformance with the Non-Admitted Insurance Model Act. Prohibits a surplus lines broker from placing nonadmitted insurance with, or procuring nonadmitted insurance from, a nonadmitted insurer domiciled outside the United States that is listed on the Quarterly Listing of Alien Insurers maintained by the NAIC International Insurance Division. Prescribes conditions u…