Copied from the Emcotec manual:

Because the distribution voltage is switched on electronically (the
switch does not activate any current, but rather only the switch-on
signal), no losses, contact errors or transition resistance occur. This
internal electronic switch is fail-safe. Thus, a switched-on “DPSI RV /
RV Mini“ remains switched on even if, for example, the On/Off switch
is separated or interrupted.

I believe that if this works as advertised then it would qualify as a "fail safe" switching method.