NU Online News Service, Dec. 22, 2:59 p.m. EST

The property and casualty insurance industry's consolidated net income through the first three-quarters of 2009 improved dramatically–a 272 percent turnaround compared to the same period last year–although experts said there are plenty of signs for caution ahead.

Net income improved by close to $12 billion, rising to $16.2 billion, according to a report on the industry's consolidated nine-month results released today by Jersey City, N.J.-based Insurance Services Office, Inc., and the Property Casualty Insurers Association of America, headquartered in Des Plaines, Ill.

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