MKB (et al),
I'm sorry you are still awaiting a response from us - I'll see if I can track down your complaint.
However, we obviously looked into the implications of tickets being lost in the post before getting involved in online selling.
As a transport undertaking selling tickets that are valid on a specific date, we are legally exempt from the delivery clause quoted. However, when tickets are lost in the post, we do look at each case individually, and may make exceptions to the 'no refunds' rule. That said, fraud is a major concern for all online retailers, and taking steps to reduce our exposure - whilst still offering convenience to our customers - is essential.
That said, it's worth weighing up the reasons why we don't offer automatic refunds. We don't charge for 1st class post - unlike some - but do offer recorded delivery for extra peace of mind if you are prepared to pay the extra £2. We also offer free 'ticket on departure' at every staffed London Midland station, either from the ticket office or ticket vending machine. In the purchasing process this is all made very clear. Indeed our default option is 'Ticket on Departure' and our 'more details' section actively encourages the avoidance of 1st class post.
We are keen to offer the facility of free delivery, and are prepared to absorb this cost (as well as the credit card fee), but if the rules on guaranteed delivery were to change, we would simply levy a fee for everyone which I don't think would be universally popular.
It's an interesting subject, that's for sure!
David