In a Dutch oven over medium heat, cook the beef, olive oil, onions and garlic together while stirring beef until the meat is no longer pink and the onions are translucent, then drain.
Stir in all other ingredients except the rice then bring to a boil.
Reduce the heat to a simmer until the peppers are nice and tender - for 30 minutes or so.
Add in the cooked rice & continue to simmer for an additional 10 minutes.
top with cheese if desired
ENJOY!