Heat oil in large skillet on medium-high heat. Add chicken, bell pepper and onion; cook and stir 7 to 8 minutes or until lightly browned.
Heat small nonstick skillet on medium heat 2 minutes. Add chili powder, cumin and garlic; toast 30 seconds or until aromatic, stirring constantly. Add to chicken mixture.
Stir in remaining ingredients. Bring to boil. Reduce heat to low; simmer 20 minutes.