Preheat oven to 350°F.
Season chicken with salt and pepper. Add olive oil and preheat a large Calphalon sauté pan or everyday pan on medium-high heat. When properly preheated, add chicken and cook, about 3 minutes per side, until golden brown. Remove chicken and set aside on a plate.
Add onion, peppers and garlic to pan, then reduce heat to medium. Sauté 4-5 minutes or until vegetables are softened.
Add saffron, rice, broth and oregano, stirring well. Bring to a simmer, then add reserved chicken. Cover pan and bake in oven for 45 minutes.
Remove from oven, and stir in olives, peas and tomatoes. Re-cover and bake 15 more minutes, or until liquid is absorbed and rice is tender. Add lime garnish if desired.