The government today allowed 26 per cent foreign investment in insurance sector. Department of Industrial Policy and Promotion said in a statement that the 26 per cent cap will include Foreign Direct Investment (FDI) and investments from Foreign Institutional Investors (FIIs) and Non-ResidentIndians (NRIs). Under the norms notified today, 26 per cent foreign investment including FDI, FIIs and NRIs, will be allowed under the automatic route in insurance companies, insurance brokers, Third Party Administrators (TPAs), surveyors and loss assessees. The decision will come into force with immediate effect.Earlier, only FDI under the automatic route was allowed in insurance companies. The statement said, the companies bringing in foreign investment will have to obtain necessary licence from the Insurance Regulatory and Development Authority.AIR Correspondent reports that insurance brokers arrange insurance contracts with insurers or reinsurers on behalf of their clients for remuneration. The TPAs help in facilitating health insurance on behalf of insurers. Surveyors and loss assessors provide technical services to the insurance companies.