Credit: Joe Klamer-Pool/Getty Images Photo: Lindsay Lohat at Her Final Probation Hearing on March 29, 2012

Everyone loves a comeback story — an underdog — right? Maybe that’s why Hollywood continues to take chances on troubled stars — even if the insurance it costs to cast them is astronomical. Case in point: Lindsay Lohan has been cast in Liz & Dick, a forthcoming Lifetime movie about Elizabeth Taylor and Richard Burton. Producer Larry Thompson told E! Online that he paid the price tag to insure Lindsay because he thinks she has a sparkle that makes the risk worthwhile.

“We have wanted Lindsay from day one,” said Thompson, adding that so far, there have been no hiccups. “Wonderfully, she has behaved.”

Over the past several years, Lohan has gotten in her fair share of trouble. From DUIs to parole violations, the Mean Girls star is a lawsuit waiting to happen. An insurance claim on a star helps minimize the damage if she has to drop out of a film for, say, getting into a bar fight. “Hollywood is mainly about reducing risk, and that's why insurance has grown so important. A completion bond on any film that has independent financing is a guarantee from someone that the film will get finished with its essential elements, which could include the star, and if it doesn't get finished, then the financiers get all the money back,” Edward Jay Epstein told NPR in 2005. Back then, they cited Arnold Schwarzenegger’s $2.5 million insurance policy for Terminator 3 as an example of the big bucks studios were willing to shell out to cover their stars.

“Lindsay Lohan may be the most insured actress that ever walked on a soundstage,” Thompson boasted to E! as proof of his backup plan in case LiLo gets in hot water while filming the movie. Regardless, Thompson feels she has the chops to pull off the part. “I think Lindsay, who is very gifted, deserved another chance … I think Elizabeth Taylor would be proud that Lindsay Lohan is going to portray her during this part of her life.”

Though he may think she’s talented, Thompson also admits Lindsay’s notorious past is a big part of the reason he wanted her to play Liz.  “That’s why we cast her … I think that’s an added value that she brings to our project.”

The girl does love diamond necklaces. (Just not enough to pay for them. Allegedly.)

Sources: E! Online, NPR

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Credit: MSNBC Photo: Lindsay Lohan on The Today Show: The "Wake Up Call" That Forced Her to "Grow Up" (VIDEO)