Not that model, no. It provides an alright feature set, but it doesn't provide disk redundancy (a RAID setup). However, some of their other models do:
http://www.lacie.com/us/products/product.htm?id=10477 (www.lacie.com)
http://www.lacie.com/us/products/product.htm?id=10579 (www.lacie.com)