That's what I thought too, so I bought some heat shield material just in case. However I have rode it several hundred miles, and haven't had a problem, so now I don't think that I'm going to need to install the heat shield material.
I bought the trunk on eBay, and I fabricated the rear rack / trunk support, out of a piece of 1/4 inch aluminum, and electrical conduit. I used stainless steel carriage bolt and nut, to fasteners. See the attached pictures.
Check out the trunk that I installed on my 1993 V-Max. Note that I built the support rack, out of conduit and 3/16 aluminum plate, due to not being able to find a rack, that was big enough, to support the trunk.
Stan, from Wichita Kansas.