Place a large skillet with a tight fitting lid over medium-high heat then add olive oil. When the oil is hot, add the ground beef and cook 5–7 minutes, breaking into small pieces as it browns.
When the meat is cooked through and no pink remains, add the onions, bell peppers and garlic then stir to combine. Once the peppers have started to soften and the onions are translucent, remove from the heat and drain excess grease.
Return skillet to the stove then reduce the heat to medium. Stir in diced tomatoes with juice, broth, tomato sauce, bouillon, Worcestershire sauce and Italian seasoning.
Bring the mixture to a boil then stir in uncooked long grain rice. Return the liquid to a boil then reduce the heat to low. Cover and simmer for 25 minutes, or until rice is tender.
One rice is tender, remove skillet from the heat, stir the mixture lightly just to fluff up the rice, sprinkle the top with shredded cheddar cheese and replace the lid. Allow the casserole to rest, covered, for about 10 minutes before serving. Enjoy!