This is more or less a continuation of the current cancellation policy but is a huge reversal on their final payment policy. That used to be 90 days then a while back they upped it to 120 days but now they have cut it in half to 60.
https://www.ncl.com/ca/en/press-releases/norwegian-cruise-line-puts-guests-first-extended-peace-of-mind-cancellation-policy-and-final-payment