There is not such thing as WEP2!
On the other hand, there is WPA2 and a recent security flaw has been discovered that can give an attacker quick and easy access to any network using WPA2.
AFAIK, Verizon has made no public acknowledgement. Brainslayer is already updating DD-WRT variants, but it will take much longer for the hundreds and perhaps thousands of Wi-Fi Alliance members to fix their products. I don't see Verizon doing a darn thing about it in the near future.
If the issue concerns you then don't use Wi-Fi and disable it on all devices. You can use a VPN to help protect your data, but it has no affect on securing the Krack exploit.
The vulnerability is with WiFi/WPA2, which is not something Verizon is responsible for. Verizon doesn't develop the hardware or the firmware. The hardware manufacturers are responsible for that part. Verizon only delivers the updates to the devices over their network.
If you want a more immediate answer then contact the hardware manufacturer for details on the status of the update for your specific device. If you find out something then let us know so we can share with others.