Preheat the oven to 350°F (175°C).
In a skillet over medium heat, sauté the diced onion and bell pepper until they are soft, about 5-7 minutes. Remove from heat and let cool slightly.
In a large mixing bowl, combine the ground beef, breadcrumbs, eggs, sautéed onion and bell pepper, garlic powder, Worcestershire sauce, salt, and black pepper. Mix well until combined.
Add half of the shredded provolone cheese into the meat mixture and mix until evenly distributed.
Transfer the meat mixture into the prepared loaf pan, shaping it into a loaf form. Pour the beef broth around the loaf in the pan.
Top the meatloaf with the remaining provolone cheese.
Cover the loaf with aluminum foil and bake in the preheated oven for 45 minutes.
Remove the foil and continue baking for an additional 15 minutes, or until the internal temperature reaches 160°F (71°C).
Let the meatloaf cool for 10 minutes before slicing. Garnish with fresh parsley if desired.