California's Home Insurance Market Faces New Threat

Devastating mudslides and flooding are likely to become the number one risk for California homeowners in the next 25 years, outgrowing the threat posed by wildfires, according to a new study by CoreLogic.By 2050, the company calculated, homes in Los Angeles, San Diego and San Francisco will have a higher flood risk than wildfire risk, forcing their owners to purchase costly extra insurance to protect their properties and equity.