After deployment of new version of our ASP.NET 2.0 application, it started to raise security exception: „System.Security.SecurityException: Request for the permission of type 'System.Web.AspNetHostingPermission, System, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089' failed.".
After quick research on internet we were able to resolve this isse by setting „Load User Profile" to True in IIS 7.5 application pool. This solution is also mentioned several times here on stackoverflow: