Heat olive oil in a large deep skillet or Dutch oven over medium-high heat.
Season the chicken thighs with salt and black pepper on both sides.
Place the chicken thighs skin side down in the skillet and sear for 5-6 minutes until the skin is golden brown and crispy. Flip and cook the other side for 3 minutes. Remove chicken from the skillet and set aside.
Reduce heat to medium. Add the chopped onion to the skillet and sauté for 3-4 minutes until softened.
Add the minced garlic and cook for 30 seconds until fragrant.
Add the rinsed rice to the skillet and stir to coat the rice with the oil and onion mixture.
Pour in the chicken broth, then stir in the dried thyme and smoked paprika.
Return the chicken thighs to the skillet, placing them on top of the rice mixture skin side up.
Bring the mixture to a gentle boil, then reduce heat to low and cover the skillet with a tight-fitting lid.
Simmer for 25 minutes, or until the rice is tender and the chicken is cooked through (internal temperature of 165°F/74°C).
Remove the skillet from heat and carefully take out the chicken thighs.
Stir the heavy cream and grated Parmesan cheese into the rice until creamy and well combined.
Return the chicken thighs to the skillet to rest on top of the creamy rice for 5 minutes before serving.