Adding to the explanation by Russ
My understanding is there are two main causes of airborne loss of control in a gyro.
Flat spin with a backslide caused by negative airspeed and no rudder authority and a pushover. High thrust line gyros where the thrust is higher than CofG are more prone to this. I believe most gyro prangs are due to rotor mismanagement on the ground.
Power pushover is generally caused by a pilot with uncontrolled oscillations (porpoising) which causes the rotors to unload. This is where the relative airflow hits the top of the rotor rather than impacting below. Once unloaded the energy of rotation is lost, rotors are no longer coned up and results in a loss of control. It is also a risk as described by Russ in a steep climb and loss of power. (High risk scenario for all aircraft).
Many accidents early with benson style home build machines were people teaching themselves to fly (a bit like early days of AUF or before). Gyros are no more subject to catastrophic component failure than any other machine depending on maintenance. In Australia Gyros are used extensively for mustering and many of these machines work 1000+ hours a year. It is not uncommon for many of them to have 5000 - 10,000 hours on them (or more). My old style high thrustline gyro now has almost 6300 hours on the hobbs and is on its 2nd 2.2l subaru car engine. Did 3 hours of fun flying this weekend in it. Plenty of people criticise anything outside mainstream for reasons I can only speculate.
Many modern Gyrocopters are well over $200,000 new and are very sophisticated. Like fixed wing and stalling in the circuit, know the risks, know your aircraft, stay current. They are an amazing platform. Training, airmanship, maintenance. Good to go.
Probably a bit off topic now!