The most common and most likely answer to this crossword clue is the 5 plus 10 letter word ANNUS HORRIBILIS
I've seen this crossword clue in Financial Times
A
N
N
U
S
H
O
R
R
I
B
I
L
I
S
Buddy explains!
The straight part
We know that "1992 for one" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case 1992 for one = annus horribilis.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.