Pat chicken thighs dry with paper towels and season generously with salt and pepper on both sides.

Heat olive oil in a large Dutch oven or deep skillet with a lid over medium-high heat. Place chicken skin-side down and sear until golden brown and crisp, about 5-6 minutes. Flip and cook another 3-4 minutes. Remove chicken to a plate.

In the same pot, add diced onion and bell pepper. Sauté for 5 minutes until softened. Add garlic and cook for 30 seconds until fragrant.

Stir in cumin, oregano, bay leaves, and saffron or turmeric. Toast for 30 seconds.

Add rice and stir to coat with oil and spices. Toast for 2-3 minutes until rice begins to turn translucent at the edges.

Pour in tomato sauce and diced tomatoes, stirring to combine. Add chicken broth and bring to a simmer, scraping up any browned bits from the bottom of the pot.

Return chicken to the pot, skin-side up, nestling pieces into the rice mixture while keeping the skin above the liquid.

Reduce heat to low, cover with a tight-fitting lid, and simmer for 20-25 minutes, until rice is tender and chicken reaches 165°F internally.

In the last 5 minutes of cooking, sprinkle peas and carrots over the top and replace the lid.

Remove from heat and let stand, covered, for 10 minutes.

Remove bay leaves, fluff rice gently with a fork, and garnish with fresh cilantro. Serve with lime wedges and avocado slices.