NEW ORLEANS) — Louisiana's highest court waded Tuesday into a high-stakes legal debate spawned by the insurance industry's refusal to pay for water damage from the failure of levees in greater New Orleans after Hurricane Katrina.

Lafayette Insurance Co. asked the Louisiana Supreme Court to overturn a state appeals court's ruling that the company's homeowner policy failed to exclude all forms of flooding because its language was ambiguous.  ...(source:www.time.com)