They will have a bigger tendency to attract ants and other bugs. Termites normally do not go after material that is fluid or moves. A piece of wood laying on the ground will not move so they will attack it, but chips of wood are always moving because of birds, winds, rains etc. This is not to say they will not, but highly unlikely.
IN any case, you need to remember not to let the mulch build up to close to the siding along the foundation area. Allowing this provides coverage for insects to travel freely up and into the walls of the house. Ideally you want at least 6 inches of space between the top of the mulch to the bottom of the siding of the home.
Lastly be sure that the mulch does not already have bugs in it. Not sure how far away the mulch came from, but in my area of NJ they restrict ground up mulch from going out of county to prevent infestation issues of some insects to other areas. While they do not enforce it to much landscapers can get tickets if caught. Many times large bulk loads of chips come from trees that were having health issues and were cut down and ground up as a result. Make sure the load your getting does not have this concern.
Thank you for your info.
Someone told me that oak chips near plant roots "suck up all the nitrogen" and that's no good. Is that true? Is it okay to just leave the area near the stems clear?