Recipients shall, at a minimum, provide the equivalent insurance coverage for real property and equipment acquired with Federal funds as provided to property owned by the recipient. Federally-owned property need not be insured unless required by the terms and conditions of the award.
    
    
        
            Code of Federal Regulations
        
        (Authority: 
                20 U.S.C. 1221e-3, 3474
            ; OMB Circular A-110)