Yes you are correct! the overall reaction is second order.
the rate of CoBr is first order, the rate of OH is first order... 1+1=2
1.5 represents k, our rate constant, not to be confused with overall rxn order.
to put it simply, when you double the concentration of CoBr, you double the rate of the reaction, when you double the concentration of OH you double the rate of the reaction, but when you double the concentration of both CoBr AND OH, the reaction rate quadruples.