low oil / cooling alerm

[mysticislandjack]

I have a 40hp 2 stroke merc with oil injection. it is mounted on a 18 foot sweetwater pontoon. I have electrical problems with the sweetwater such as no lights, horn, radio. Now the alerm has sounded indicating low oil or cooling problem. I topped off the oil reservour, and the cooling system is pumping cool water through the teltale. The alerm will sound as soon as the key is turned to the run position but before the motor starts. Could the loss of lights etc be releated to the alerm. Any sugestions on remedy.
Thanks