Which of the following is an example of a product liability coverage event?

Product liability coverage is specifically designed to protect manufacturers, distributors, and retailers against claims resulting from injuries or damages caused by defective products. A defective gas range exploding falls under this category, as it involves a product that fails to perform safely, leading to potential harm to consumers or property.

In this scenario, the defect in the gas range could be linked to manufacturing errors, design flaws, or inadequate instructions, prompting legal action from affected individuals. This directly illustrates how product liability insurance would cover the costs associated with such claims, including legal fees and settlements.

The other scenarios provided do not relate to product liability. For example, a customer falling on a wet floor pertains to premises liability, which addresses hazards present on a property rather than issues with a product. Declining customer satisfaction relates more to service quality or business performance and does not involve direct harm or defectiveness of a product. Finally, injuries from a slipped advertisement could imply liability in advertising practices but does not involve the physical defectiveness of a product that would necessitate product liability coverage.