The request channel timed out while waiting for a reply after 00:00:59.9843995

HI

how to solve below error appearing in sharepoint server this server has only one in sharepoint farm. 

Log Name:      Application

Source:        Microsoft-SharePoint Products-SharePoint Foundation

Date:          11/4/2015 11:49:26 AM

Event ID:      8306

Task Category: Claims Authentication

Level:         Error

Keywords:     

User:          XXX\spfarm

Computer:      XXX-1.xxx.local

Description:

An exception occurred when trying to issue security token: The request channel timed out while waiting for a reply after 00:00:59.9843995. Increase the timeout value passed to the call to Request or increase the SendTimeout value on the Binding. The time allotted to this operation may have been a portion of a longer timeout..

Event Xml:

<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">

  <System>

    <Provider Name="Microsoft-SharePoint Products-SharePoint Foundation" ………   

    <TimeCreated SystemTime="2015-11-04T08:49:26.686330500Z" />

       <Channel>Application</Channel>

    <Computer>XXX-1.xxx.local</Computer>

  </System>

  <EventData>

    <Data Name="string0">The request channel timed out while waiting for a reply after 00:00:59.9843995. Increase the timeout value passed to the call to Request or increase the SendTimeout value on the Binding. The time allotted to this operation may have been a portion of a longer timeout.</Data>

  </EventData>

</Event>

adil