Which organization investigates fraudulent insurance claims with the same powers as law enforcement?

The Insurance Fraud Bureau is specifically tasked with investigating fraudulent insurance claims and holds similar powers to law enforcement agencies. This organization is focused on identifying, investigating, and preventing fraud in the insurance industry. They operate with the authority to conduct investigations, gather evidence, and collaborate with law enforcement to prosecute fraudulent activities. This capability allows them to effectively address and combat insurance fraud, which is a significant concern for both insurers and consumers.

Other organizations, while they have important functions, do not possess the same investigative powers. For example, the Guaranty Association provides protection to policyholders in the event of an insurer's insolvency, but it does not investigate fraud. The FAIR Plan provides insurance coverage for those who are unable to obtain it through traditional means, particularly high-risk properties, and the Iowa Insurance Commission regulates and oversees the insurance market in Iowa, but its focus is not directly on investigating fraud claims. Thus, the Insurance Fraud Bureau stands out as the dedicated body with law enforcement-like powers for handling fraudulent insurance claims.