How to Make It
In a medium saucepan, combine the stock with the saffron and a generous pinch each of salt and pepper and bring just to a boil. Remove from the heat.
Meanwhile, in a large, deep skillet, heat the olive oil. Add the onion and cook over moderate heat, stirring occasionally, until just starting to soften, about 7 minutes. Add the chorizo, ham, red and green peppers, bay leaves and garlic. Cook over moderately high heat, stirring occasionally, until the vegetables are softened, about 5 minutes.
Add the rice and cook, stirring, until coated, about 1 minute.
Add the stock to the skillet and bring to a boil over high heat. Cover and cook over moderately low heat until the rice is tender and the liquid
is absorbed, about 20 minutes. Let stand for 15 minutes, then fluff with a fork. Discard the bay leaves. Season the rice with salt and pepper and serve.