Place a large skillet with a tight fitting lid over medium-high heat then add olive oil. When the oil is hot, add ground beef and cook 5–7 minutes, breaking into small pieces as it browns.
Add onions, bell peppers and garlic in with beef; stir to combine. Once the peppers have started to soften and the onions are translucent, carefully drain excess grease from skillet.
Return to stove reducing heat to medium. Stir in diced tomatoes with juice, broth, tomato sauce, bouillon, Worcestershire sauce and Italian seasoning.
Bring to a boil then stir in uncooked rice. Return to a boil, reduce heat to low, cover and simmer for 25 minutes, or until rice is tender.
Remove skillet from heat, stir lightly to fluff up the rice, sprinkle with shredded cheddar cheese and replace the lid. Allow the casserole to rest, covered, for about 10 minutes before serving. Enjoy!