The captain did a safety drill. This covered where the emergency position-indicating radio beacon (EPIRB) was located, how to make a mayday call, and where the fire extinguishers were. A crew member demonstrated how to put on an immersion suit. These survival suits are waterproof full-body garments with a hood and integral three-finger gloves and boots. They are bulky and hard to get on but far more likely to save your life in cold water than a lifejacket. […] It was only in 1988 that it became mandatory for US boats to carry safety equipment such as life rafts and an EPIRB, a locator beacon that should detach on sinking then float.
Source: wiktionary