Method:
Heat oil in a large skillet over medium heat. Add sausage and cover skillet. Cook, turning sausage occasionally, until browned on all sides, about 10 minutes. Transfer sausage to a large plate, set aside until cool enough to handle, then cut into 1/2-inch slices.
Add peppers and onions to the hot skillet. Increase heat to medium high, add thyme and bay leaf and cook, scraping up any browned bits, until vegetables are golden brown and just softened, about 5 minutes.
Add tomatoes with their liquid, then fill the empty can with water and add to the skillet, too. Stir in beans, salt and pepper, and reserved sausage, reduce heat to medium and simmer until flavors are developed, about 20 minutes. Remove and discard bay leaf and serve sausage and beans spooned over rice, with a piece of cornbread on the side, if you like.