Brown the Chicken: Start by heating olive oil in a large deep skillet or pot over medium heat. Season the chicken thighs lightly with salt and pepper. Place them skin side down and cook until the skin turns golden and crisp. This step adds flavor and texture. Remove the chicken and set it aside.
Build the Base: Using the same pot, add the chopped onion. Stir and cook until soft and lightly golden. Add the garlic and cook briefly until fragrant. Keep stirring so nothing sticks or burns on the bottom.
Add Vegetables: Stir in the chopped red bell peppers. Let them soften slightly while mixing with the onion and garlic. The color and sweetness start balancing the savory base here.
Toast the Rice: Pour the uncooked rice into the pot. Stir it well so every grain coats with oil and vegetables. Let it cook for a minute or two. This step helps the rice hold texture while cooking.
Create the Sauce: Mix in the tomato paste and smoked paprika. Stir until the paste blends smoothly. Add crushed tomatoes, chicken broth, olives, red pepper flakes, bay leaf, salt, and pepper. Stir gently and bring everything to a light simmer.
Nestle the Chicken: Place the browned chicken thighs back into the pot, skin side up. Spoon a little sauce around them but keep the skin mostly uncovered so it stays crisp. Lower the heat and cover the pot.
Simmer Slowly: Let the dish cook gently for about 30 to 35 minutes. The rice absorbs the liquid while the chicken cooks through. Check once or twice to make sure the rice does not stick.
Finish and Rest: Turn off the heat and let the pot rest for five minutes. Remove the bay leaf and sprinkle parsley over the top before serving.