Absolutely.
Remember in an ecosystem, plants are usually the main producers of the currency of energy in the form of sugars, proteins, and fat. They do so via photosynthesis.
For a lot of insects, plants are their main source of food.
This means-- if plants are insect-resistant, insects can't eat them.
Hence, insects can't receive the necessary energy they need to survive.
This can affect biodiversity in some ways:
It could mean the population of plant-eating insects may dwindle because of less food
It could mean that the population of plant-eating insects would leave the geographic area in search of food
So there's a lot of reasoning behind the harm of insect-resistant plants.
However, always look at the other side and realize that there are also benefits to insect-resistant plants, particularly for us humans who rely on them religiously to keep up with the demand for food!