SiFi cardholders are protected by Mastercard®’s Corporate Liability Waiver Insurance, designed to safeguard businesses from financial loss due to unauthorized card usage by employees.

❓ What is Corporate Liability Waiver Insurance?

Corporate Liability Waiver (CLW) is an insurance program provided by Mastercard® that protects businesses against unauthorized or fraudulent transactions made by employees using their company-issued SiFi cards.

🏢 Who is eligible for this insurance?

This coverage is available for companies using the following SiFi Mastercard® cards.

🌍 In which countries is the insurance available?

The CLW insurance benefit is available in Saudi Arabia by a third party insurance provider appointed by Mastercard in the region

✅ What does the insurance cover?

The policy covers unauthorized card transactions, including those made:

• Without the employer’s knowledge
• After termination of employment
• In violation of internal policies

This provides financial protection to your company if an employee misuses their business card.

🚫 What is not covered?

The waiver typically does not cover:

• Authorized purchases, even if later disputed
• Transactions older than the allowed reporting period
• Fraud committed by company owners or directors

Refer to the full policy terms for detailed exclusions.

📄 What documents are required to file a claim?

To file a claim, the company must submit:

• A signed Affidavit of Waiver
• Proof of cardholder termination, if applicable
• A summary of the unauthorized transactions
• Any other documentation requested by the insurer

🕒 What is the claim process and timeline?

Step-by-Step:

1. Notification
   • SiFi must notify the insurer upon receiving an Affidavit of Waiver that may lead to a claim.
2. Documentation
   • Within 45 calendar days, SiFi will submit all required documents to the insurer.
3. Claim Review & Payment
   • If approved, the insurer will release payment within 30 calendar days.
4. Subrogation
   • Upon payment, the insurer assumes the right to recover the loss from the involved party.

📆 Is there a time limit to submit claims?

Yes. Legal action against the insurer can only be taken if:

• All policy terms are met, and
• The action is initiated within 2 years from the date the loss was discovered.

⚖️ What happens if there’s a dispute with the insurer?

All disputes or disagreements related to the claim or policy will be resolved through arbitration, as agreed between the insured company and the insurer.

🔄 Can SiFi or the company be held liable during this process?

No. Upon valid submission and payment, the insurer agrees to indemnify and hold harmless both SiFi and the company from any related legal or financial liability arising from the claim.

📞 How do I start a claim?

If you suspect unauthorized use of a SiFi card:

1. Immediately block or cancel the card via the SiFi platform.
2. Reach out to SiFi Support.
3. Submit the Affidavit of Waiver and required documents.

SiFi will handle the claim submission process with Mastercard’s insurer on your behalf.

📢 Disclaimer

This insurance is offered and underwritten by Mastercard® and its partner insurers.

SiFi does not manage or control the insurance policy terms or payouts but facilitates access and documentation for its business customers.