It does not, except if you're COPYing into an unlogged table - for regular tables data that gets COPYed in gets WAL logged and is crash safe.

In my understanding, as compared to a multi-row insert, a COPY statement is (1) a lot more efficient to parse/process, (2) uses a special bulk write strategy that avoids churn and large amount of dirty pages in shared buffers.

As compared to multiple single row inserts another benefit is that you're writing a single transaction ID, instead of a lot of individual transaction IDs (causing less freezing work having to be done by autovacuum, etc.)