One billion-dollar weather disaster in March 2014: Drought in Brazil

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One billion-dollar weather-related disaster hit the Earth during March 2014: Southeastern Brazil's worst drought in 50 years, which has cost at least $4.3 billion so far this year, according to the March 2014 Catastrophe Report from insurance broker Aon Benfield. This is the third most expensive natural disaster in Brazil's history, and the second consecutive year of disastrous drought in the country. Drought in Northeast Brazil during the first five months of 2013 caused an estimated $8 billion in damage--Brazil's second most expensive natural disaster in recorded history. According to the international disaster database EM-DAT, Brazil's costliest natural disaster was the drought of 1978 ($2.3 billion in 1978 dollars, or $8.3 billion 2014 dollars.)