Heat a Dutch oven
or large, deep pot over medium-high heat. Add the bacon to the hot pot
and cook until light brown on both sides. Add the garlic and saute until light brown. Add the drained beans along with the cold water to the bacon and garlic and bring to a boil over high heat. Cover the pot, reduce heat to a simmer
, and cook until beans are just tender, about 1 hour. Add the chili peppers
, coconut milk, scallions, thyme, allspice, salt, and pepper and bring to a boil. Stir in the rice and, once the mixture has returned to a boil, stir, reduce the heat to low, cover and cook for 20 to 30 minutes, or until the rice
is tender and has absorbed all of the liquid. Allow to sit for 15 minutes before serving. Remove the thyme sprigs and Scotch bonnet pepper halves and serve.
**It is traditional to "crush" scallions by placing them on a cutting board and lightly tapping them with the handle of a knife. They can then be removed before serving but still impart their wonderful flavor to the rice and beans.