Heat the oil in a large skillet or Dutch oven over medium heat. Add the vegan ground "beef" and chopped onion to the skillet. Cook, stirring occasionally, until it starts to brown and crumble, and the onion becomes tender, approximately 5-7 minutes.

Add minced garlic, Italian seasoning, smoked paprika, ground cumin, salt, and black pepper to the "beef". Cook for an additional 2-3 minutes until the garlic is fragrant.

Core and dice the red, green, and yellow bell peppers. Stir in the diced tomatoes (including their juices), tomato paste, and diced peppers. Mix well to combine all the ingredients.

Add the uncooked brown rice to the skillet, followed by 2 cups of water. Stir everything together.

Bring the mixture to a boil, then reduce the heat to low. Cover the skillet with a lid and let it simmer for about 30-35 minutes, or until the rice is tender and cooked through. Stir occasionally to prevent sticking.

Once the rice is cooked, sprinkle the grated vegan mozzarella and cheddar cheese on top of the mixture. Cover the skillet again with a lid to help the vegan cheese melt better.

Remove from the stovetop, sprinkle with chopped parsley and serve.