Heat olive oil in your skillet over medium heat. Add the diced onion and bell pepper, cooking until softened and fragrant, about 4-5 minutes. Stir in the minced garlic for the last minute to avoid burning.
Add the diced chicken breast to the skillet, seasoning with salt, pepper, cumin, and chili powder. Cook, stirring occasionally, until the chicken is browned and nearly cooked through, about 6-7 minutes.
Sprinkle the rice evenly over the cooked chicken and vegetables. Pour in the chicken broth, making sure the rice is submerged. Stir gently to combine, then bring the mixture to a boil.
Reduce heat to low, cover the skillet, and let it simmer for 15 minutes. After 15 minutes, remove the lid gently and stir in the black beans and corn kernels. Cover again and continue to cook for another 5-7 minutes, or until the rice is tender and the liquid is absorbed.
Turn off the heat and stir in the fresh cilantro and lime juice. Taste and adjust seasoning with additional salt, pepper, or lime juice if desired. Serve warm and enjoy!