Preheat oven to 350° Fahrenheit
Heat oil in a small skillet over medium heat. Sautee chopped onion and bell pepper in 1 tablespoon of oil until softened, about 5 minutes.
1 onion, 2-3 bell peppers, 1 tablespoon olive oil
Place rice, beans, broth, onion and bell pepper mixture, garlic, and thyme into a 9x11 casserole dish and mix well.
1 cup brown rice, uncooked, 1 onion, 3 cups low sodium chicken or vegetable broth, 4 cloves garlic, ½ teaspoon dried thyme, 2-3 bell peppers
Place the bay leaves on top of the mixture and press down lightly so they are easy to remove when it's done cooking.
2 bay leaves
Cover with foil, seal around the edges well.
Place in the oven for 1 hour and 15 minutes.
Remove from oven and let sit for about 5 minutes.
Remove foil.
Remove the bay leaves.
Sprinkle the cheese evenly over the beans and rice, while it's still hot.
1 cup cheddar cheese
Serve and enjoy!