The short answer is yes.
The least expensive option would be to wire a remote lanyard kill switch at the stern of your boat. This could be done for less than $100. There are wireless devices, however, which would offer you greater flexibility. They all use an RF transmitter of some kind to communicate with a base receiver. Some only activate the transmitter when the sensor is submerged, and other are always transmitting and activate the cutoff when the base loses the sensors signal. Out of all the wireless systems curently available for Inshore use in the US, I like this one the best.
Mobilarm - MOBi-lert 720i | Mobilarm - Man overboard safety systems
I would also recommend carrying a PLB with GPS in the event you were unable to return to your vessel.