Cannot read configuration file due to insufficient permissions

Not sure whether this is too late for you.

The IIS website is run by either USERS or IIS_IUSRS.

Try to do following:

• From Windows Explorer
• Right click on the folder pointed by the web
• Go to security tab
• Add computername\IIS_IUSRS or computername\USERS with Read permission.

I faced a similar issue on Windows 8.1. I fixed it by changing identity value from ApplicationPoolIdentity to Local System.

1.Open IIS 2.On left side panel click on application pools 3.And go to its properties and change identity value from "ApplicationPoolIdentity" to "Local System".

I resolved the problem when i tried this.