Where the terms of an insurer's contract give a retail customer a longer period to cancel (that is, in excess of the 14 or 30 days specified), the insurer must disclose in the information about the right to cancel the differences between the retail customer's right under ICOB 6.2.1 R and the terms of the contract, which operate independently.
The cancellation period in ICOB 6.2.2 R must begin on the later of:
that a fax is received when sent, if an appropriate transmission report is generated by the transmitter's machine; and
that an e-mail is received when sent.
The general assumptions in ICOB 6.2.6 G(1) can be contradicted by a retail customer. In such cases the burden would be on the retail customer to show that the evidence on which the insurer was relying was not correct. If the retail customer could show this then unless the insurer itself had information to suggest that this was not the case, the insurer should generally accept the retail customer's evidence.
The provisions in ICOB 6.2.5 R(3), under which time may run from the day on which the retail customer receives the contractual terms and conditions and information in accordance with ICOB 5.3.4 R, ICOB 5.3.6 R(1) or ICOB 5.3.8 R, as applicable, would cover situations where:
the contract has been concluded by a means of distance communication by which the contractual information could not reasonably have been provided prior to the conclusion of the contract in a durable medium (for example, by telephone) and is therefore provided subsequently; or