US Army Corp of Engineers Lapel Pin Vintage Safety Ring Water Rescue?

US Army Corp of Engineers Lapel Pin Vintage Safety Ring Water Rescue Pin is in great condition. Appears to be the US Army Corp of Engineers symbol but with a boat safety ring shown. Not sure of the origin or intent. Measures about 1" across and made by Hoovers mfg. Please see pictures for condition. If you have any questions, please let me know.