An inner tubular wall is concentrically located inside an outer tubular wall to form an annular space therebetween. A bearing is retained within the annular space. The bearing can include a pair of precision angular contact bearings, the bearing may also include an axial sleeve bearing. A frangible element such as an annular shear groove is associated with one of the outer tubular wall and the inner tubular wall. Separation occurs at the frangible element and the bearing supports the inner tubular wall member and the outer tubular wall member for rotation relative to each other upon the coupling assembly experiencing a shear event. In addition, the angular contact bearings may reduce any bending moments that might otherwise impact upon the frangible element during normal operation. The frangible element may be treated, for example, by shot-peening or coating to reduce deterioration of the frangible element during normal operation.