Close to safe area in dangerous Hebridean island (7)

I believe the answer is:
eriskay
'hebridean island' is the definition.
The definition suggests a singular noun which matches the answer.
'close to safe area in dangerous' is the wordplay.
'close to' suggests the final letters (the close of something is the end).
'area' becomes 'a' (maths abbreviation).
'in' is an insertion indicator.
'dangerous' becomes 'risky' (similar in meaning).
The final letter of 'safe' is 'e'.
'a' put inside 'risky' is 'riskay'.
'e'+'riskay'='ERISKAY'
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I've seen this clue in The Times.
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