This paper presents an analysis of an electro-optical hazard alerting system based on intruder line-of-sight rate. We use a recently-developed airspace encounter model to analyze intruder line-of-sight rate behavior prior to near miss. We look at a simple hazard alerting system that alerts whenever the line-of-sight rate drops below some set threshold. Simulations demonstrate that such an approach, regardless of the chosen threshold, leads to frequent false alerts. We explain how the problem of hazard alerting can also be formulated as a partially observable Markov decision process (POMDP) and show how such an approach significantly decreases the false alert rate.