I've known 3 people that were into paragliding. 2 of them had near misses from chute collapses and the other flew into a stationery car (he was saved from more serious injury by wearing a full face helmet). So definitely not risk free, based on that sample.
I did it once with an experienced pilot, tandem. An awesome experience. He explained the most dangerous time is when you get slightly confident. That's when most accidents occur, at the intermediate stage. He said you have to be religiously careful at all times, and stay paranoid.
