It'd been some while since we've had a giant bug movie, then in 1997 there came two, Mimic and Starship Troopers, and I can't really say which one's the better.
The plot of Mimic has Mira Sorvino playing a bug specialist who genetically engineers an insect which will wipe out New York City's cockroach population, which is carrying a disease seriously effecting thousands of children. Although the bugs were only supposed to have a lifespan of four or five months as well as be sterile, something didn't go as planned once they were released in the wild. Three years later the bugs are still alive and have adapted themselves quite well, almost to the point of being human (and acting much like Jeff Goldblum in Carpenter's "the Fly"). Sorvino takes it upon herself and a rag tag group of heroes to find out what's going on and stop the bugs in the sewers of NYC.
Besides being incredibly trite, Mimic also reuses scenes and story aspects from every single sci-fi/horror film from the past two decades including (but not limited to) Alien, Species, Jurassic Park, and the Fly. The only good thing about the film was the direction from Guillermo Del Toro, which almost made Mimic feel like an original production.