Yes, your statement is largely correct. Hotspots are regions in the Earth's mantle where magma rises in an anomalously hot plume, leading to volcanic activity. Unlike volcanic activity associated with tectonic plate boundaries, which are often caused by plate interactions (such as subduction or rifting), hotspots are relatively stationary and can create volcanic islands as tectonic plates move over them.
A well-known example of hotspot-related volcanic islands is the Hawaiian Islands. As the Pacific Plate moves northwestward over a stationary hotspot, a series of volcanoes forms, resulting in a chain of islands. These volcanoes are typically more active when they are directly above the hotspot, while older islands that have moved away from the hotspot become extinct.
In summary, hotspots can indeed lead to significant volcanic activity far from tectonic plate boundaries, and they are responsible for the formation of volcanic island chains.