In a large pot over medium-high heat add olive oil and onion. Saute for 2-3 minutes or until almost tender. Add in the ground beef and cook and crumble until to longer pink. Drain grease and set it aside on a plate.
Add the olive oil and peppers. Sauté for 3-4 minutes or until almost tender.
Add the meat back into the peppers. Add in the beef broth, tomato sauce, diced tomatoes, Italian seasoning, salt, and pepper.
Add in the rice and stir. Let simmer for about 3-4 minutes until heated throughout.