If you mean hurt the baby then yes it CAN cause problems, however it does not always. You are not going to know if the umbilical cord is wrapped or even knotted. The only way to know is to have it detected during an ultrasound or when baby is born. This isn't a common occurance, and I don't mean to scare you, but occasionally a baby is so active that the cord becomes tight around the babies neck which can either send the baby into fetal distress or worse. I myself was born with the cord around my neck twice, it was fairly snug, the doctor had to use forceps to pull the cord away as I was coming out...but I'm fine.
As the others said if you are concerned you should talk to your OB about the chances/risks.
It depends on if it is tightly wrapped or just loosely. I know a lot of babies are born with it around their neck but it is not tightly wrapped. Sometimes you can tell if it is tightly wrapped and if your baby is in danger because sometimes the baby will "panic" and you will feel very paniky movements. If you are concerned about the cord being wrapped I would call your OB. I know how hard it is to worry about everything but chances are your baby is ok. Relax and get some rest. God Bless
You are not going to know if the cord is wrapped around the neck unless your doctor does an ultrasound to confirm the problem. Sometimes the cord wrapped around the neck can cause problems and then sometimes it doesn't hurt at all. If you are concerned then you need to talk to your doctor. It happens a lot more often than you might think, but definitely talk to your doctor.