The evaluation process for some roads safety strategies, especially innovative ones, may be challenging, as prior information may be non-existent. This challenge could be addressed with the use of surrogate measures, such as traffic conflicts. Statistical models relating crashes to conflicts are fundamental to this application. The aim of the paper’s research was to investigate some key issues related to the development and application of crash–conflict models. Among the issues addressed are the model specification, the very definition of conflicts, model transferability, and application of the models for estimating crash modification factors (CMFs). Issues are addressed with a case study in which traffic conflicts identified from both time to collision and post encroachment time are generated from the microsimulation of four-legged signalized intersections. These conflicts, in addition to the speed of conflicting vehicles, are used to explore the improved statistical relationships between the frequency of crashes and surrogate measures. Transferability of the models to another jurisdiction is also investigated. The results indicate that the inclusion of the speed variable along with conflicts provides stronger relationships than those with conflicts as a standalone variable. In particular, the results confirm the viability of estimating CMFs with the improved models. The transferability investigation results indicate that it is reasonable to apply the models to the other jurisdiction with caution. Importantly, where such an application is valid, a key conclusion is that calibration of the models would not be necessary to estimate CMFs and apply them to estimate the potential safety impact of a contemplated treatment.