Well in theory no it is not, it's a rated recovery point, which means it's a hell of alot stronger then the points Land Rover want you to use.
As I said, they have been known to fail, there is a thread in here where both those safety chain points you have those shackles on failed after the tow hitch failed and the van ended up rolling down the hill he was climbing and into a ditch.
Just a note on the chains and there job, the theory is that if the pin holding the tounge in the hitch should break, the chains should be at a length that won't let the tounge slide out of the hitch.
Baz.

