My daughter has had a hearing disability since birth, will this affect her speech development?

Depends on Dx & Rx. The effect of a given hearing loss on speach and language development depends on the interplay of diagnosis (how bad) & intervention:early childhood and speech rx & success of amplification if indicated. Many states have instituted universal newborn screening to help sort out those in need of early work. Most that are identified early & treated have a good outcome.
While seeking a. Medical/genetic etiology (cause), enrollment in your state's early intervention program is advisable, even in early infancy.