In a large pot, saute the onion in the olive oil over medium-low heat until translucent.
Add the carrots and continue cooking until the carrots are soft. Add the garlic and cook for another 30 seconds.
Add the beans, chicken, tomatoes, chicken broth, and seasonings to the pot. Bring just to a boil, then lower the heat and simmer for 30 minutes. Taste the chili and adjust the seasonings to your taste. No two pots of chili should ever be exactly the same.
Serve warm over rice, and garnish if desired. Refrigerate or freeze the leftovers.