By Michael Kunzelman, Associated Press Writer NEW ORLEANS — One of the nation's largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid costly litigation after disasters like Hurricane Katrina. Nationwide Mutual Insurance (NFS) also says that expanding its homeowner policies to include flood coverage could save taxpayer money by reducing costs for the federally subsidized National Flood Insurance Program (NFIP). Nationwide's plan, which would require congressional approval, calls for the company to sell flood insurance at the same price as NFIP policies. However, policyholders would have the option of buying flood coverage beyond the limits of the national program. Also, unlike other homeowner...
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