The Leading Marine Insurance Provider in Jordan Complete Coverage for Cargo, Liabilities, and Hull
Trust Us to Protect Your Business
For over 50 years, JICO has been dedicated to delivering tangible and practical insurance solutions to intermediaries and employers, fostering transparent and reassuring partnerships. Our unwavering dedication to being there for you when you need us the most has earned us the trust of businesses of all types and sizes.
Despite what the name implies, marine insurance refers to all means of cargo transportation by land, sea, and air.
Why JICO Marine Insurance
Your Reliable Marine Insurance Partner
JICO excels in the Jordanian insurance market due to our extensive expertise in the field, offering a comprehensive range of Aviation and Marine insurance programs.
Simplicity
At JICO, we make obtaining marine insurance a breeze with our user-friendly solutions, specifically tailored to your company’s needs.
Loyalty
We value building strong and lasting partnerships with our clients, and we are committed to earning your loyalty by delivering exceptional service and support.
Flexibility
Our team of experts offers customized insurance solutions that cater to the unique needs of businesses across various industries.
Speed
We recognize the value of timely service, which is why we pride ourselves on our efficient policies and quick turnaround times.
At JICO, we offer a variety of insurance products and services under our marine insurance umbrella, including cargo, hull, and machinery, legal liabilities, and aviation insurance.
Your investment
Our Protection
Cargo Insurance
At JICO, our cargo insurance policy is specifically designed to provide comprehensive coverages for all types of cargo whilst being transported by land, air, or sea both locally and globally. With our policy, you can have peace of mind knowing that your cargo is protected against all potential risks of physical loss or damage.
Types of Marine Insurance Contracts
Our cargo insurance coverage is available in two forms:
- Single shipment insurance, which provides coverage for a specific shipment, or
- Open cover insurance, which provides annual coverage for multiple shipments.
We offer flexible options for our marine insurance policies, including coverage for both single shipments and annual agreements through an Open or Floating Policy. As a leading insurer in Jordan’s marine industry, we provide coverage with a substantial insurance capacity.
Cover your cargo now…
Hull Insurance
Our Hull Insurance contract provides comprehensive protection against physical loss or damage to insured vessels or fleets caused by various perils while in transit, including the perils of the sea.
Although the most insured vessels are those operating in the ocean or at sea, our contract can also cover vessels that work in any kind of waterway, such as tugboats, barges, and recreational boats.
Speak with our specialists …
Legal Liabilities Insurance
At JICO, we offer Legal Liability Insurance that is specially designed to protect transport companies from legal liability toward cargo owners in Jordan. This policy covers losses or damage to cargo during transit and ensures that transport companies are financially protected in case of any mishaps.
Choose JICO for reliable Legal Liability Insurance coverage …Coverage
Which are the conditions under which marine insurance policies are issued, in accordance with institute cargo clauses of the London Underwriters’ Association, and are as follows:
Clause A
All risks and incidents except for what is expressly excluded.
Clause B
This insurance policy provides broader coverage than Clause (C) but less coverage than Clause (A). in other words, it offers partial protection against loss or damage to the insured goods that can be reasonably attributed to the following incidents:
- Fire or explosion.
- Stranding, grounding, sinking, or capsizing of the vessel
- Overturning or derailment of land conveyance
- Collision of vessel craft or conveyance with any external object other than water.
- Discharge of cargo at a port of distress or refuge
- Earthquake, volcanic eruption, or lightning
- General average sacrifice
- Jettison of cargo or washing overboard due to waves
- Entry of seawater or river water or lake water into vessel, holds, conveyance, container, or storage location
- Total loss of any package either by falling overboard during transit or during loading or unloading from the vessel.
Clause C
Institute Cargo Clauses (C) offer limited coverage for named perils that may occur during sea voyages. It protects against loss or damage to the insured subject matter reasonably attributed to the following events:
- Fire or explosion.
- Stranding, grounding, sinking, or capsizing of the vessel
- Overturning or derailment of land transport vehicle
- Collision of the vessel or transport vehicle with any external object other than water
- Discharge of cargo at a port of distress or refuge
- General average sacrifice
- Deliberate jettison of cargo into the sea
For all of the aforementioned coverages, the insured goods may be also extended to include protection against war risks, disturbances, and riots, subject to payment of an additional premium.
General Marine Insurance Quote Process
To receive a quote for marine insurance from JICO, simply follow these easy steps:
- Provide your first and last name, company name, and contact details.
- Include the name of the insured party.
- Specify the voyage details, including the origin, destination, and mode of transportation, whether by land, sea, or air
- Indicate the value of the shipment in the relevant currency and the incoterms (CIF, FOB, FCA, etc.) from the location.
- Describe the cargo in detail and include the maximum number of containers per shipment.
- Select the desired coverage, whether it is clause A, B, or C, total loss, land transit only, or land transit all risks.
- Indicate whether war or SRCC coverage is required.
- If there has been any loss history in the past five years, provide details of the loss.
- Once you have provided this information, one of our agents will be in touch with you to provide you with a quote.
Our versatile marine insurance contract caters to a diverse range of industries and business types, including:
• Importers and exporters within the same country and/or worldwide, such as:
o Manufacturers, wholesalers, retailers, repairers, logistics providers, ship owners, and a wide range of vessel operators, including tourist boats and pleasure boats.
Who Needs Marine Insurance
Our versatile marine insurance contract caters to a diverse range of industries and business types, including:
Importers and exporters within the same country and/or worldwide, such as: Manufacturers, wholesalers, retailers, repairers, logistics providers, ship owners, and a wide range of vessel operators, including tourist boats and pleasure boats.
Client Review
Rand Al Sakka
Customer
Very prompt response to my initial enquiry – extremely helpful and professional staff.
They gave me the most suited package for me and for my 3 children
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Khalid Abu Al Hija
Customer
My family left Saudi Arabia this summer. It was not easy being this far away from them.
Ahmad from JICO really helped me pick the best possible package!
Mariam Taha
Customer
I’ve never had to waite inline at a pharmacy and I’ve always been able to secure my monthly dosage with
My Chronic medications are delivered to the pharmacy each month right on time
Rand Al Sakka
Customer
Very prompt response to my initial enquiry – extremely helpful and professional staff.
They gave me the most suited package for me and for my 3 children
Khalid Abu Al Hija
Customer
My family left Saudi Arabia this summer. It was not easy being this far away from them.
Ahmad from JICO really helped me pick the best possible package!
Mariam Taha
Customer
I’ve never had to waite inline at a pharmacy and I’ve always been able to secure my monthly dosage with
My Chronic medications are delivered to the pharmacy each month right on time
FAQ Section
Questions mostly asked by our customers with answers to
help you better understand our insurance.
What is marine insurance and its types?
Marine insurance is a type of policy that indemnifies the insured party against losses or damages to goods that are transported from their country of origin to the destination. This type of insurance contract covers various aspects of transportation, including ships, cargo, yachts, freight liabilities, terminals, hull and machinery, as well as land, air, and sea freight, and any other means of transport that are used to transfer, acquire or hold goods between the points of origin and destination.
What is marine hull and machinery insurance?
Marine Hull and Machinery Insurance protects the insured vessel or fleet against physical loss or damage resulting from accidents, perils of the sea, or other covered risks while the vessel is in transit over water.
What are the “perils of the sea”?
Perils of the sea refer to insurance coverage for marine hull or cargo, which protects against damage caused by the sea’s extraordinary natural forces that maritime journeys may encounter during a voyage. Examples include storms, lightning, snow, ice, fogs, tides, rocks, sandbanks, volcanic eruptions, and undersea earthquakes.
How is premium determined in marine insurance?
The premium for marine insurance can be calculated by following the below steps:
1- First, determine the shipment value or freight cost.
2- Next, include an additional 10% to account for escalation costs.
3- Multiply the total value obtained by the insurance premium rate quoted by the insurance provider.
Which losses are not covered by the marine insurance policy?
1- Loss caused by wear and tear, gradual deterioration, insects, mold, and animals.
2- Loss or damage to the cargo due to delay.
3- Damage due to improper packing.
4- Loss due to insolvency of the cargo company.
Note: Some plans also exclude various damages, such as scratches, marring, or manufacturer’s defects.
Why is marine insurance necessary?
Marine insurance is important for businesses to gain peace of mind. In effect, our maritime policy gives the policyholder a sense of satisfaction, knowing that their goods are protected in the event of loss or damage. This allows them to focus on their business operations without worrying about the potential financial impact of shipping their goods.