I got this same error in 4.4.1 using hosting at 1and1.com. Then I deleted everything from my site, emptied the database, installed 4.5.1 and ended up with the same error. I get the error on some of the pages, but not all. It is like the portal has a flat tire. I can still drive it, but it keeps failing. Take a look at
http://s203381010.onlinehome.us/ocstc/
And you will see that the portal partially comes up, but coughs up this error in several places.
Request for the permission of type 'System.Security.Permissions.FileIOPermission, mscorlib, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089' failed.