2. Heat the olive oil over medium heat in a separate medium-sized pot. Add the onion and peppers and cook for 2 to 3 minutes, until the onion turns translucent.
3. Add the rice to the onion mixture and stir.
4. Turn the heat to low, add about 1 cup of the hot stock to the rice mixture, and stir slowly until the stock is absorbed.
5. Continue to add the stock 1 cup at a time, stirring slowly, letting the rice absorb the stock before adding more.
6. The risotto is cooked when it is creamy on the outside and slightly firm (al dente) in the center. Stir in the Parmesan cheese. Season with salt and pepper to taste. If the risotto is too thick, add a little more stock until it becomes creamy.