I spoke with a knowledgeable and very helpful tech at Verizon and he found an internal issue tracking number where Verizon is documenting and collecting examples of this issue. He read through the log and said that the notes indicate that they are working with Apple and will most likely issue a carrier update to fix the problem. No ETA as of yet that he could communicate.
If you are experiencing frequent signal dropouts specifically with the iPhone 7 (where you had no issue prior to upgrading to the iPhone 7), you may wish to call Verizon technical support (ask for tier 2 support) and reference issue tracking number 102095-091716. The more examples they have, the better!
Just a reminder to make sure everyone is calling in to report their issues to Verizon. The more complaints they get, the quicker this will get fixed (hopefully)!
See my previous post quoted above, as you will want to reference the issue tracking number that they are using internally to keep track of this issue.