Heat olive oil in a large skillet over medium heat. Season chicken with salt, pepper, garlic powder, and onion powder.
Add chicken to the skillet and cook for 5-6 minutes per side, or until golden brown and cooked through. Remove and set aside.
In the same skillet, add chopped onion and garlic. Cook until softened, about 2-3 minutes.
Add rice and stir to toast slightly, about 1 minute.
Pour in the chicken broth and bring to a simmer. Cover and reduce heat to low. Cook for 18-20 minutes or until rice is tender.
Stir in heavy cream, Parmesan, and Italian seasoning. Return chicken to skillet and cook for 2-3 minutes to warm through.
Garnish with chopped parsley and serve warm.