Once an insurance company encashes my premium cheque, from when should the risk start?

I have issued a cheque towards first year premium along with the proposal for insurance. The cheque dated the first of the month has been encashed by the insurance company on the third of the month. But they have issued the insurance policy only on the 19th of the month with the date of starting of risk shown as the 22nd of the month. As my cheque for the premium amount has been encashed on the third of the month itself, is not the insurance company liable to cover the risk from the date of encashment of the cheque? Does not the encashment of my cheque and crediting it to the insurance company's account signify that they have accepted the risk from that date itself?