That is certainly a major devaluation in coverage. I have found this card / insurance very useful for extended trips particularly with car rentals. But it was already becoming a dogs breakfast with different durations - for example car rental insurance up to one month per rental and max total coverage up to 6 months for travel and no more coverage for the year after the 6 mths (but how they verify that - I can't understand).
Still, for $87 even with the reduced benefits, it is great value - so long as you have read the fine print.