In a large dutch oven, heat olive oil. Add onions and red pepper and cook until soft. Add in garlic and cook for additional minute.
Stir in dry rice, coating in oil and juices from vegetables. Add chicken broth, salt, and saffron. Bring to a boil, reduce heat, and cover. Cook for 10 minutes, until most of the liquid is absorbed by the rice.
Stir in sausage and peas. Cook an additional 5-10 minutes, until rice is soft and fluffy.
Remove from heat and stir in paprika. Let cool for 5-10 minutes before serving.