OK...the above post was somewhat glib...
Confining the scope of my response to the pump and its fluid, irrespective of the impact on controls and affected equipment:
When the pump stops, the impeller (or impellers) will go from full spped to full stop at some ramp rate. (The ramp may be steep.) The fluid on both sides of the pump will also go from full speed to full stop in the piping, but will reach full stop somewhat sooner than the pump impeller does due to slip effects. On the discharge side of the pump, if the fluid line velocity is high enough and there is enough fluid mass and inertia, a phenomenon known as column separation may occur. This is a condition in which the decelerating fluid mass tends to pull itself apart locally, creating "vacuum boiling" (localized voids) for a short period of time until the piping pressure recovers. The pressure recovery in such instance typically produces a fluid hammer due to the void collapse. The instantaneous pressure rise can be several times higher than the pumping pressure and can, indeed, break the pump and connected equipment and piping. In my experience, you probably want especially bigger pumps to ramp down slowly when they "quit"; that's a controls issue and doesn't really help in situations when a shaft or an impeller key shears and the impeller stops turning immediately irrespective of what's happening on the other side of the failure.
I guess I am not sure about the scope of your question.
Regards,
SNORGY.