To other comments I'll just add that another italian metal band named Graveworm also made a cover of this, though it was 10 years ago and it is considerably harder (and in my opinion, it is much better).
The problem is that if a band covers a song that is as well known as Losing My Religion they really need to do something interesting with it. Coil haven't done much with this, it feels a bit lazy, they made Enjoy the Silence work but a Depeche Mode song lends itself quite nicely to LC's style anyway. It's an okay cover but it probably says a lot about where LC are now that a mediocre cover version of a pop song would make their new album.
The problem is that everybody is comparing covers to original version.It doesn't make any sense. You need to listen to it as to separate song. All in all only Manson's covers (Sweet dreams and Tainted love) can be compared to originals because of his"specific" and "furious" style. He didn'tmake new song, only added his taste.LC in Losing my religion made this song in their way, what doesn't meanthat this version is bad... it's different.