1. Preheat your oven to 350°F (175°C). Lightly grease a 9×13-inch baking dish.
2. In a large pot, bring the chicken broth to a boil. Add the rice, reduce heat to low, cover, and simmer for 15-18 minutes or until the rice is cooked and the liquid is absorbed.
3. While the rice is cooking, heat the olive oil in a large skillet over medium heat. Add the onion, bell pepper, and garlic. Sauté until the vegetables are softened, about 5 minutes.
4. Add the shrimp to the skillet and cook until they just turn pink, about 3 minutes. Remove from heat.
5. In a large mixing bowl, combine the cooked rice, sautéed vegetables and shrimp, grated cheddar cheese, sour cream, cream of mushroom soup, Old Bay seasoning, paprika, black pepper, and salt. Stir until well combined.
6. Transfer the mixture to the prepared baking dish, spreading it out evenly.
7. Bake in the preheated oven for 25-30 minutes, until the casserole is bubbly and the top is lightly browned.
8. Remove from the oven and let it sit for a few minutes before serving. Garnish with chopped fresh parsley if desired.

Variations & Tips
For a different protein option, consider substituting the shrimp with diced cooked chicken or turkey. You can also add more vegetables such as celery, peas, or mushrooms for extra flavor and nutrition. If you like a bit of heat, try adding a pinch of cayenne pepper or some diced jalapeños. Lastly, using a blend of cheeses like Monterey Jack or pepper jack can provide a nice twist to the flavor profile of the casserole.