1. No insurer shall refuse to issue, reduce liability limits of, or increase the premium of any automobile liability insurance policy issued to a resident of this state for the sole reason that the policyholder has reached a certain age.
2. Where age is a factor in an increase of rates for an individual policyholder, the increase must be justified to the Commissioner and the burden of proving justification is on the insurer. If a medical examination is required for the purpose of a rate increase, such examination shall be at the expense of the insurer.
3. This section does not apply to applicants and policyholders under the age of 25 years.