This is the 2692nd most frequent Japanese word.
無し
"無し" means "without" or "none."
The word '無し' is used to indicate the absence of something (a warranty in this case).
この商品は保証無しです。
This product comes without a warranty.
Here, '無し' indicates the lack or absence of a reason.
彼は理由無しに怒った。
He got angry without reason.
In this case, '無し' is paired with 'ではありません' to express that risks exist, refuting absence.