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Heat oil over medium heat in a 3- or 4-quart pot.
Set aside a tablespoon of chopped peppers for garnish.
Add onion and remaining peppers to hot oil and cook until onion is translucent and peppers are fragrant, stirring occasionally, about 7 minutes. Do not let the vegetables brown.
Stir in rice, bay leaf and garlic clove.
Stir to coat rice with oil and lightly toast it, about 1 minute.
Stir in broth, season with salt and pepper and bring to a boil.
Cover pot and reduce heat to a slow simmer.
Cook until rice is tender and liquid is mostly evaporated, 30 to 35 minutes.
When ready to serve, heat cannellini beans in a small saucepan.
Reserve a few of the beans for garnish and add the rest to the warm rice, stirring gently to combine.
Top rice with remaining white beans and reserved red and yellow bell peppers.
Sprinkle with chopped pickled peppers and serve immediately.