A long-stroke pumping unit includes a tower; a counterweight assembly movable along the tower; a drum connected to an upper end of the tower and rotatable relative thereto. The unit also includes a belt having a first end connected to the counterweight assembly, extending over the drum, and having a second end connectable to a rod string. The unit further includes a prime mover for reciprocating the counterweight assembly along the tower; a sensor for detecting sudden acceleration of the counterweight assembly due to failure of the rod string; and a controller in communication with the sensor and operable to activate the braking or arrestor system in response to detection of the sudden acceleration. The unit further includes at least one of a braking system for halting free-fall of the counterweight assembly; and an arrestor system for absorbing kinetic energy of the falling counterweight assembly.