@Just Bling - It mentions about the setting in the wording:
"or if it’s lost due to a defect in the manufacture or workmanship of the setting. "
If the OP has only had the ring since April, she should definitely get in touch with them. Very likely, QVC can simply replace it but, at the very least, repair the ring she has.
@bcherry01 - If you can't get through on the 1-800 number listed, email the moderators on these boards. They are very helpful.
QVCSocialTeam@qvc.com
"" A little learning is a dangerous thing."-Alexander Pope