In 4-quart saucepan, cook beef, onion and garlic over medium-high heat 5 to 7 minutes, breaking into small pieces as beef browns.
Add bell peppers, salt and pepper. Cook 5 to 7 minutes longer or until peppers have started to soften. (If you didn't use extra-lean beef, drain off some of the fat at this point.)
Reduce heat to medium; add tomatoes, broth, tomato sauce, soy sauce and Italian seasoning. Stir until well combined. Heat to boiling.
Add uncooked rice. Return to boiling; reduce heat to low. Cover and simmer about 25 minutes or until rice is tender.