Place Italian sausage, chopped pepper, and chopped onions in a large saute pan. Brown the sausage till cooked; drain the fat.
In a large pot, add tomato juice, tomatoes, chicken broth, garlic, navy beans, oregano, and basil. Add sausage mixture and stir together. Turn heat to medium-high and bring to a boil. Lower the heat to medium-low and simmer for 30 minutes, stirring occasionally.
Serve in 1-cup measurements. Add Parmesan cheese to garnish. Serve and enjoy!