Yes, the usual campfire precautions are in order! Actually, you want to make a smudge with lots of smoke, so you don't need a big fire--get a small bed of coals going and add grass or green branches. Of course, clear the ground around first.

The incident that finally persuaded me to get a PLB (on top of big fussing from family and friends about going out alone) involved a hiker getting pinned by a boulder in the Wind Rivers. He couldn't free himself and eventually died of dehydration. No, this wasn't the guy who cut his arm off! Wandering_Daisy mentioned this incident in one of her trip reports and I found the complete story here.