None that I am aware of. I've owned one of similar design for almost ten years now.
After leveling the lift front-to-back and side-to-side, check lock engagement and, if necessary, adjust the cables so that (a) all four locks engage fully; and (b) all four locks engage at the same time. This is VERY important.
It's not common, but one issue I've heard of (actually, with all lifts) is failure of the cheap momentary contact button switch which controls the pump. They've been know to fail and stick in the 'on' position while raising a vehicle. Make sure you either (a) have an emergency shutoff switch wired in or (b) have easy access to the plug so you can pull it out of the receptacle if the switch sticks in the 'on' position.
If this is your first lift, get familiar with proper operating procedure. No distractions! Focus COMPLETELY on the lift when raising or lowering the deck. This alone will eliminate 99% of risk.