1. In a paella pan or a large skillet, heat the olive oil over medium-high heat. Add the onion, bell pepper, and tomato and cook, stirring occasionally, until the vegetables are softened.
2. Add the rice and stir to coat in the oil. Pour in the broth, saffron, and paprika and bring to a boil.
3. Reduce heat to low, cover, and simmer for 18 minutes.
4. Stir in the peas and cook for 2 minutes more.
5. Sprinkle with the parsley, Parmesan cheese, and salt and pepper to taste. Serve immediately.
