Should we be worried? (UB)

unbolted.com/uk/lender-terms-conditions/

I have the faint shadow of a recollection that Connective when asked the same question said something along the lines of 'all good pawnbrokers have insurance against that'

I may be wrong.....

Yes in overdue loans. Quite a number of large chunks of gold and silver.
I'm also in around 6 loans, not much info to go on.

Ah yes, looks like Ive only got one, on the hook for less than £5. 

I think unlikely that they would have an insurance policy that extends coverage to losses incurred on stolen pledged assets.  My base assumption is the risk lies with lenders rather than UB and their T&C's don't state that they will underwrite losses incurred from stolen pledged assets.  Whilst I have some exposures to these loans, I would be probably be more concerned if UB were on the hook to made good on any loss - from the perspective of platform viability. 

However, the total exposure looks like £65k across all 6 affected loans.  Large, but unlikely to be catastrophic to UB if they are on the hook when viewed against net assets of £750k in their last published stats at 30 Nov 20.  Painful to individual lenders in the affected loans, but less so than would be likely the case if it were to affect the viability of the platform.  Unfortunately the risk of lending against stolen pledged assets seems to be one of the key risks in pawn brokering, one that can be mitigated but not entirely eliminated.