One thing that can happen is you forget to add water, another is all the water escapes. Both would pose scenarios where the temperature could get too hot.
To reduce the amount of clean up, many of us sear in our PCs. You can’t get a good sear on Teflon safely.
There isn’t much reason for a PC to be non stick, but if you want stainless steel to behave the same way you can: http://www.youtube.com/watch?v=1376ITxF1Oc
-Some would prefer to have a fond at the bottom of the pan to deglaze and make a sauce from.