The American Institute of CPAs (AICPA) has revealed that 32% of Americans have not taken any steps to safeguard their finances against natural disasters. 

The survey, conducted by The Harris Poll on behalf of the AICPA, found that 66% of Americans believe experiencing a natural disaster would significantly (29%) or moderately (37%) affect their financial circumstances. 

The most common preparatory actions include reviewing insurance coverage (31%) and cataloguing assets for insurance claims (30%).  

However, fewer individuals have considered updating or creating an estate plan or will, with only 19% addressing this aspect of financial readiness. 

The survey indicates that 63% of business owners are concerned about the prospect of financial difficulties following a disaster, with specific worries including revenue loss due to operational disruptions (33%), customer or contract attrition (29%), and damage to physical assets (26%). 

The survey’s findings are drawn from an online poll conducted in the US between June 13 and 17, 2025, involving 2,093 adults, 284 of whom are business owners.  

AICPA of member value, tax & advisory services vice president Eva Simpson said: “Many Americans don’t think about their finances when it comes to preparation for a natural disaster.  

“However, financial needs become front and centre after the destruction has already taken place. Disaster preparedness when it comes to finances can go a long way to mitigate the financial toll and help people and businesses recover.” 

Recently, the AICPA sought additional guidance on the application of Roth catch-up contributions as stipulated by the SECURE 2.0 Act, 2022.